The offshore drilling rig market is “much tighter” than previously thought, according to new analysis, with some segments “nearly sold-out”.
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.
Borr Drilling said it is seeing “stronger customer demand” for its rigs, with greater discussions and tending.
Higher oil prices look set to drive sustained rig demand in 2022, according to new analysis.
The demand for offshore rigs is expected to grow in the coming years, despite scores of assets currently sitting idle.
Prosafe said rising demand for its accommodation platforms in the North Sea and around the world had led to a rise in turnover and profits.