Total: There are plenty of offers in the offshore sector

There are many players vying for projects when the oil companies select rigs and drilling vessels for their projects. Rig rates remain low and "favorable" to oil companies, French oil major Total tells ShippingWatch.

Photo: /Ritzau Scanpix/Reuters/Pilar Olivares


There is fierce competition in the rig sector, where there are plenty of tenders and low prices to choose from for the big oil companies, Total's president for exploration and production, Arnaud Breuillac, tells ShippingWatch.

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