Eight out of 10 midwater floaters are on contract at present, as compared to nine out of 10 deep-water to ultra deep-water drilling units, Mey said.
Rig utilisation for midwater floaters could dip further to five or six out of 10 rigs if current market conditions continue to prevail, Mey opined.
The offshore drilling market has already witnessed an increasing bifurcation of rig operating dayrates, reflective of the differing demand conditions for older midwater to deep-water floaters and the newbuild ultra deep-water units entering the market.
Newbuild
