Rystad Energy: At least 110 rigs must go to curb downturn

Massive overcapacity in the jack-up rig market means that 110 rigs need to be go before the market can return to balance and the downturn in recent years can be curbed, says Rystad Energy.

BY SØREN PICO, SHIPPINGWATCH

A drastic reduction in the number of jack-up rigs is necessary before the market can get rid of massive overcapacity, concludes Norwegian analyst firm Rystad Energy.

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