The Middle East region has a healthy marketed utilisation rate of 82.5% with 132 units on contract at the time of writing,compared to 160 marketed units. Although there seems to be a surplus,the majority of the available rigs are unable to compete in the current tenders. Therefore,the jackup market in the Middle East is quite tight for premium units. Many of the rigs being offered in current tenders are from outside the region. Day rates have been in the USD 65,000-85,000 range for JU >300 ft IC units.
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