The global market for jack-up rigs has shown strong performance this year, with the number of awards and the duration of bookings already set to outpace 2021, according to Esgian Rig Analytics.
Analysts have said it “could be the end of the line” for Aberdeen-headquartered Awilco Drilling after the firm agreed to offload the remains of its fleet.
With oil consistently above the $100/barrel threshold, demand for rigs is set to continue its ramp up, with the North and Barents Seas marked as hotspots, according to data from rig analysts Esgian.
Scrapping and cold-stacking have reduced the global offshore rig supply, while stable commodity prices drive increased activity and greater utilisation heading into 2022, according to rig analysts Esgian.