The move, proposed by chief executive Per Wullf at the Pareto Oil & Offshore conference in Oslo on Tuesday, is aimed at boosting flagging utilisation of the rig giant’s fleet of 54 units, of which 13 are presently laid up.
It comes as dayrates have sunk to low levels of only around $200,000 per day that barely cover operating costs amid a drought of contracts as oil companies cancel charters and decide not to extend existing ones amid low oil prices that have hit profitability.
Wullf
