Demand for drilling rigs in the Asia Pacific has remained stagnant, and perhaps even decreased, over the past year. "We've seen jackups, in particular, struggle to find work after coming off contract," said Yun Yun Teo, IHS Petrodata Principal Analyst for Rigs, Asia Pacific. The average number of jackups on contract in Southeast Asia, which remains dominated by shallow-water drilling, was 44.5 in 2015, and that number fell to just 25.9 in 2016, according to IHS Petrodata. "Some have moved to other regions to find work. Despite that, drilling contractors have trouble finding work. It's a sign of how bad things are."
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