Sold out! Harsh environment semi-submersible rigs unavailable: Westwood upstreamonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from upstreamonline.com Daily Mail and Mail on Sunday newspapers.
Reflecting high demand for sixth-generation, harsh-environment semisubmersible rigs, their committed utilization is sold out at 100%. Dayrates in this group are forecast to continue increasing over the next five years, with rates at or above $500,000 for contracts beginning in late 2024 and early 2025.
The North Sea rig market is under pressure as market players begin to look elsewhere, posing an availability risk with new oil and gas projects expected to come
New research reveals that the availability of emission-lowering upgrades for offshore rigs has been on the rise but adoption of these new technologies is slow outside of Norway and the US Gulf of Mexico