Page 16: of Offshore Engineer Magazine (May/Jun 2024)

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MARKETS JACKUPS

Valaris also stated that it is already in talks with new opera-

Opportunities for redeployment tors for the Valaris 143.

So where could these rigs potentially end up, should

Shelf Drilling, meanwhile, believes it can secure work their managers choose to bid them elsewhere? RigLogix for three of its four suspended rigs, getting them back into records a total of 32 requirements at a full tender or direct operation before the end of 2024 at attractive dayrates and negotiation stage, that are due to begin in the next year margin levels. The fourth unit, it believes, could also fnd should they move ahead.

new work next year.

India, Southeast Asia and Africa appear to be offering up the

COSL has yet to decide if it will relocate any of its lion’s share of potential demand days during this period. How- four suspended rigs and has not divulged what it’s plans ever, some rumours suggest that due to this new additional sup- will be, while Arabian Drilling has indicated that it is ply of jackup capacity in the market, we may see some opera- actively exploring opportunities to redeploy the units tors that currently have active tenders out in the market look to with other operators. cancel and re-tender as they may potentially be offered lower

Saipem, meanwhile, has revealed that one of its sus- dayrates in the current environment. The upward trajectory of pended jackups was already budgeted to complete its dayrates appears to be unaffected year-to-date.

contract around the middle of this year and will be de-

Total remaining term on the suspended contracts comes livered back to the owner. Another unit will undertake to approximately 54 years of backlog, or 66 years including planned maintenance and recertifcation during the options. Of course, some of this has now been terminated suspension period, and the third will most likely be re- and perhaps more will be in the future. It is unclear if those deployed into a different geographical area substituting rigs that have been re-contracted outside of the region will another rented unit that will be subsequently delivered return to fnish their stints with the Saudi Arabian opera- back to the owner.

tor after their new commitments. 16 OFFSHORE ENGINEER OEDIGITAL.COM