‘Permitorium’ a distant memory as demand for vessels surgesTaken from: Offshore Support Journal November 2012
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....Please login to read the rest of this story
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