By Kathleen Gammack, Westwood Global Energy Group senior rig market analyst
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The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand.
Noble Corporation (NYSE:NE) has grabbed "first mover advantage" in an offshore rig market set for further consolidation, according to analyst firm Wood Mackenzie.
Analysts at GBI Research predict a surge in offshore drilling expenditure across Africa and the Middle East, climbing from $13.56billion last year to $17billion in 2016.
Diamond Offshore Drilling has contracted the Keppel AmFELS shipyard in Brownsville, Texas to construct a moored semisubmersible drilling rig for delivery during Q3 next year.
