Houston—The thirst for new, highly capable offshore drilling rigs that can work under the most challenging conditions has yet to be slaked, despite construction of dozens of marine rigs in the last decade, which is still ongoing, Noble CEO David Williams said last week. During a quarterly earnings conference call, Williams said some wide-scale “separation of quality” needs to occur through retirement of older assets in the global fleet. “Even though we have built as an industry a number of new rigs over the last ... several years, we haven’t really built enough to satisfy the total range of operator demand around the world,” he said. “So there is still going to be work for some of these older high-quality rigs going forward.”
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