In the big picture, global commodity prices have stabilised, capital expenditure on exploration and production (E&P) has increased significantly year-over-year, and the number of ultra-deepwater floaters and high-spec jack-ups in the region continues to expand. Rig owners continue to place orders for high-spec newbuilds, and are receiving contract extensions and generous day rate increases from E&P companies intent on keeping rigs working. The number of rigs worldwide has risen consist....

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