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.

Read the whole article

Get 14 days free access.
No credit card required.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas wins order for 372 MW

The wind turbine manufacturer seals its largest order to date from Eastern Europe with an additional 62 Enventus units headed to a project in Ukraine.

Europe's wind industry urges ban on landfilling spent blades

With the outlook to roughly 25,000 tonnes of decommissioned wind turbine blades existing in 2025 – and twice as much five years later – the wind sector wants the EU to ban landfilling the composite components and to support development of new solutions.

Further reading

Related articles

Latest News

See all jobs