Page 14: of Offshore Engineer Magazine (Nov/Dec 2025)

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MARKETS RIGS © Kalyakan / Adobe Stock

CHALLENGING 2025 FADES

AS OFFSHORE RIG

OUTLOOK BRIGHTENS

Te 2025 ofshore rig market has been anything but boring, with increased attrition and M&A activity, as well as demand challenges from continued high supply chain costs combined with low oil prices impacting operators’ project schedules, rig suspensions/terminations in Mexico and Saudi Arabia, and geopolitical sanctions to name but a few. It’s not all doom and gloom though - there are signs that the market will look brighter from late 2026 onwards; however, next year will not be without its challenges.

By Kathleen Gammack, Senior Rig Market Analyst, Westwood Global Energy 14 OFFSHORE ENGINEER OEDIGITAL.COM