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Norway rig departures set to continue to other in-demand countries - Upstream Online

Upstream Online · last updated

International demand for Norway’s rigs is set to continue | Upstream Online

The departure of deep-water drilling rigs from Norway to other demand centres is set to continue, and the ordering of newbuild units is extremely unlikely, according to one of the country’s leading offshore drilling companies.

It is understood there are currently 12 deep-water rigs working in Norway, down from about 22 such units about two years ago.

Market forecasters estimate there is demand for nearly 20 deep-water rigs by 2025, but Odfjell Drilling said on Thursday that it “expects to see the trend of more units leaving Norway for international contracts continuing and the likelihood of newbuilds, extremely unlikely”.

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