The global leader in offshore jack-up drilling rigs Shelf Drilling is benefiting in a big way from vigorous demand in the Middle East with its 36 units nearly fully utilised and its backlog strong.

Forget building new rigs, it's time to consolidate and take out smaller players, say big drillers
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The Oslo-listed company said its backlog as at 31 December 2022 was $2.7 billion with 35 of its 36 rigs under contract.

“After several challenging years, the industry has reached an inflection point.