Offshore rig construction cycle ending

Click here to enlarge imageThe current construction cycle for offshore drilling rigs is coming to a close. According to Offshore Data Services Inc. (ODS), from 1996 to the present, a total of 55 semisubmersibles, drillships, and jack ups have been ordered, with 32 delivered to date. Of the remaining vessels, 5 drillships are to be delivered by the end of the year, finishing up construction activity for this category.In addition, the 14 remaining semisubmersibles are to be delivered by the end of 2001. Finally, 3 of the remaining 4 jack ups are to be delivered in 2000 and the last in 2001. Other than these, there are no firm orders on hand.So far this year, six rigs have been delivered. ...

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