Drilling Market Focus: Chinese build rigs, drillers venture abroad

China’s increasing industrialization is expanding its drilling market. The need for petroleum is driving increased drilling and Chinese yards will build more than 100 new land rigs this year.Rig countsWithout relying on outright disclosure, it’s difficult to estimate the number of land rigs working in China at any given time. Operators report regionally, rather than nationally, and there is a host of separate administrative bureaus and regional authorities apparently without centralized record keeping that is publicly available. Land rigs in China are owned by national and regional drilling companies; only rarely are any leased from outside the country.China National Petroleum...

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