The global drilling sector could be facing a new and draining price war if the major drilling companies – which are currently in the midst of an acute rehabilitation process – return to form without drastically reduced fleets.
At any rate, Maersk Drilling CEO Jørn Madsen estimates that the drilling sector must pull as many as four in ten rigs from the market entirely, for instance to scrap them, in order to avoid repeating the price war that has resulted in a collapse among the biggest companies in the business.
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