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Rig companies seek out new partners in weak market

A series of rig companies including Maersk Drilling are working toward consolidation of the industry, which could take place with acquisitions of rigs, ships or entire companies. The industry must look far into the future to find a healthy market, though 2018 looks set to break records for new drilling approvals.

Photo: COSL

LONDON

While 2018 looks set to become a record year for approvals of new oil drillings on the Norwegian Shelf, it will still take a long time before rig companies can reap the financial rewards.

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