MarineLink News Search

Norwegian Offshore Oil Rush Forces Rig Rates Higher

High activity on the Norwegian shelf leads to high day rates for drilling rigs. Desperate oil companies are forcing day rates for drilling rigs to reach new heights. Analysts believe day rates will be over $700,000 this autumn, reports the 'Barents Observer'. Contracts are pouring into the rig market and the day rates for the most advanced drilling rigs are reaching the top levels of 2008. “The rush has just begun”, says analyst Martin Huseby Karlsen in the 'Dagens Næringsliv'.