Offshore

Almost 70 rigs are set to join crisis-stricken drilling sector

Over the coming years, a double-digit amount of new rigs are set to be delivered to the crisis-stricken drilling sector, in which chief executives want to scrap up to 40 percent of the existing fleet. Many newbuilds will likely never hit the market.
The picture is from 2014 and shows Singapore's Keppel yard at the time when it was building a drilling rig for Maersk Drilling, among others. | Photo: Edgar Su/Reuters/Ritzau Scanpix
The picture is from 2014 and shows Singapore's Keppel yard at the time when it was building a drilling rig for Maersk Drilling, among others. | Photo: Edgar Su/Reuters/Ritzau Scanpix
by SØREN PICO

While a number of drilling executives, banks and analysts would like to see a considerable share of the world's drilling rigs be scrapped, a significant number of newbuilds are still waiting in the wings.

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