Article: Deep water plays: Where the action remains

Some $12 Billion in New Rig Orders Signals Continued Interest in Developing Reserves Despite Dropping Oil Prices

Deep water play is the strongest single driver behind the upturn in mobile rig construction activity worldwide. A slew of offshore drilling rigs are being built around the global to meet demand of oil and gas companies in their search for oil and gas reserves. Most of the 60-plus newbuilding rigs will be specially suited to drill in deep water areas.

These newbuilding rigs represent an investment more than $12 billion. Equipment on order includes drillships, semisubmersibles, jackups, a semisubmersible tender, and several barges suited to drill in Lake Maracaibo offshore ...

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