Semi demand is showing signs of recovery, and contractors have observed that stabilising day rates have improved confidence as reflected by higher bid rates in some tenders. Market activity continues to improve since the first quarter, and the rolling 12-month forecast indicates an uptick in demand. For the jackup segment, notable tenders out in the last month include Chevron Thailand's programme for five years or three years plus options, Petronas Carigali's campaign covering two wells plus two option wells offshore Sarawak/Sabah, and Pertamina Hulu Mahakam's two-year charter for a second jackup. ONGC also has lOjackups coming off contracts in 2018 and is expected to tender against the renewals of some, if not all, of the units later this year.
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