Maersk Drilling has noted a slowing in the international rig sector, with the deepwater segment being particularly hard hit, it says.

While the international market for premium jackups is still benefiting from a preference by oil companies for newer rigs with better safety performance and drilling efficiency, the news is not so good for the ultradeepwater segment, it states. “The ultradeepwater market is experiencing a slow-down due to oil companies postponing several drilling programs and at the same time many new rigs are entering the market. Consequently, Maersk Drilling experiences increased competition for longer-term jobs, especially in 2014 and 2015,” the drilling contractor declared in its first quarter results statement.

Nevertheless Maersk said it is maintaining its long-term positive outlook for the ultradeepwater rig market.

Offshore