Putting aside doubts about the ability of new shipyards to deliver the goods, Brazil is already dominating the global market for deepwater rigs.

At the last count, Petrobras’ Brazilian fleet consisted of more than 100 floating rigs either under charter or with letters of intent, plus another five of the company’s own units. These are divided more or less equally into semi-submersibles and drillships, and 70 of them are deep-water units.

Petrobras