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Drilling rigs lost billions of dollars in value in just one year

In a single year, the global fleet of drilling rigs has had its value reduced by USD 30 billion, shows an analysis reported on by Finansavisen. Oil price drops and the Covid crisis have been tough on the sector in 2020.

Photo: Russell Cheyne/Reuters/Ritzau Scanpix

The world's drilling rigs have drastically decreased in value during a 2020 when the major oil price drop seen in the spring and the Covid crisis have had a hard impact on the industry.

This means that the values of drilling rigs have declined an entire USD 30 billion in a single year, according to an analysis by Bassøe Rig Values, reports Norwegian business media Finansavisen on Thursday.

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