Utilisation in the Middle East stands at 85.8%, which is a healthy range for day rates. In the past month, tenders have progressed and a few awards were announced. Average day rates improved slightly (about 15-17% increase in average long-term rates) to a range of USD 65,000 to low 80,000s for rigs of the >300 IC categories. The number of contracted rigs remains strong at 133 rigs, an increase from last year's number of 127, and more rigs are on contract in the Middle East now than ever before.
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