Analysts: Many of the unemployed rigs will never work again

Norwegian media Sysla reports that 37 rigs are currently stacked in Norway and the UK. And many of these rigs will never work again, note two analysts.

Photo: Colourbox

A large number of unemployed rigs idled in Norway and the UK will likely never work again, two analysts tell Norwegian media Sysla, which reports that 37 rigs are currently stacked in the two major oil and gas-producing countries.

Namely because many of these rigs are too old and the cost of reactivating them is just too high, they say.

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