Maersk Drilling CEO sees three major obstacles for strained drilling sector

Three significant problems characterize the hard-pressed drilling sector from the get-go of 2021. However, the fact that competitors have filed for Chapter 11 helps with one of the issues, says Maersk Drilling CEO, who reports of talk about consolidation among major industry players.

The drilling industry currently finds itself in a situation in which there is a need to examine the possibility of consolidation. And this is a factor that will characterize the year to come, says Maersk Drilling CEO Jørn Madsen. | Photo: Stine Bidstrup/Stine Bosse/Ritzau Scanpix

BY ASTRID STURLASON

Published: 12.02.21 at 15:27

The hard-pressed drilling sector faces three problems in particular, which are all leaving a significant mark on the industry from the beginning of 2021, argues Maersk Drilling CEO Jørn Madsen.

One of the problems is already well underway to being dealt with due to the large number of drilling companies filing for or already being under receivership under the US court system through the so-called Chapter 11.

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