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Maersk Drilling prepares to scrap rigs to improve drilling market

Despite signs of increased interest from customers, the drilling market continues to be under severe pressure, and many rigs are now set to be recycled to create a better balance, estimates Maersk Drilling CEO. It will also impact the company's own fleet.

Maersk Drilling CEO Jørn Madsen. | Photo: PR/Maersk Drilling

After yet another annus horribilis in the drilling sector which saw both a collapse in the oil price and the coronavirus pandemic, Maersk Drilling has slowly started to see more feelers and a greater interest in drilling tasks.

From here, however, there is still a rather long way until a decided improvement for the sector and for Maersk Drilling, which most recently saw both its revenue and fleet utilization go down in the third quarter.

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