Asia Pacific region is one of strongest rig markets

摘要

THE ASIA PACIFIC rig market is one of the tightest jackup and semisub-mersible markets worldwide with little rig availability. With what may seem as a constant flow of new rig tenders in the region, drilling contractors and others predict a continuing strong market with the possibility of a shortage of some units, particularly jackup rigs. The regional jackup market is so tight, essentially at 100 percent utilization, that some contractors are mobilizing units from other markets to take advantage of its strength. At least three jackups are set to enter the area, which could upset a delicate balance. Additionally, with several jackups under construction in the area in Singapore, Korea and China, Southeast Asia may be the first place they look for employment. Despite this, one analyst is predicting a potential shortage of jackup rigs at least through early 2005. The same is nearly true for the semisubmersible market. Several units are reported to be removed from the drilling fleet and convert- ed into other modes this summer, further tightening the region. That is expected to result in a near balanced market during the third and fourth quarter of this year.