Demand still building for North Sea area high-end rigs

Awilco Drilling says there is little remaining capacity for modern high-end semisubmersible drilling rigs this year for work offshore Norway.

Offshore staff

ABERDEEN, UKAwilco Drilling says there is little remaining capacity for modern high-end semisubmersible drilling rigs this year for work offshore Norway.

Only around one-third of rig days in 2020 remain clearly available, the contractor added.

Most recent fixtures have been commanding around $300,000/d excluding potential bonus amounts.

In the UK offshore sector, reduced supply of rigs in this category and increased demand will likely lead to the currently marketed fleet being fully booked this summer.

This will likely result in day rate pressure and reduced seasonality in the region, with higher take-up levels forecast for late 2019 and into 2020.

02/13/2019

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