Global operational rigs will slide by 11% and active rigs will fall by 12% this year because of the oil price plunge, UK-headquartered energy industry research consultancy Douglas Westwood predicted.
Rigs will be less in demand this year because operators are cutting back on capital expenditure, with onshore well drilling expected to fall by 19% in 2015.
If oil prices can recover to pre-crisis levels of between $70 and $80 per barrel in 2016, modest growth can be expected through to 2019 as drilling recovers, Douglas Westwood said.
”Asia-Pacific
