Demand for offshore rigs predicted to rise in coming years – Bassoe

Demand for offshore rigs predicted to rise in coming years – Bassoe

The demand for offshore rigs is expected to grow in the coming years, despite scores of assets currently sitting idle.

Forecasts from Bassoe Offshore show that, by the end of 2022, there will be demand for 518 offshore rigs, rising to more than 250 by the end of 2025.

That could results in global offshore competitive rig utilisation of about 90%, above the level needed to spur significant increases in day rates.