New rigs, deeper wells, and Arctic drilling drew attention this year. Drilling requires rigs, and despite the drop in utilization rates, there are a few hundred new rigs under construction around the world. The interesting thing about these new builds is that many are being built in recently constructed yards in countries where rig building is a relatively new enterprise. More land rigs are being built in China, Russia, and Europe, and new yards capable of building mobile offshore drilling units have opened in Vietnam, China, and Indonesia, with another yard scheduled to open in Brazil.
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