Page 29: of Offshore Engineer Magazine (Jan/Feb 2026)

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MARKETS FLOATERS y the close of 2025, total foating rig backlog close of Noble’s acquisition of Diamond Offshore, the days had fallen 25% compared with 2024. This company currently has a managed marketed foater feet of was in large part due to few contract awards 24 rigs. Notably, Noble has over 400 more days booked in

B coming out of Brazil, the world’s biggest user of 2027 than for 2026. Valaris, with a marketed foater feet foating rigs. As of the end of January 2026 however, the of 12 units, is in a similar position to Noble, with over 200 number of rig days already booked for this year is up 4% more days booked for 2027 than for this year.

from the 2025 total.

South America Leads 2026 Contracted Days

The three rig managers with the biggest increases in contracted days for 2026 versus last year are Turkiye Despite seeing fewer foater awards than anticipated state-owned TPAO, China state-owned China Oilfeld from Brazil in 2025, numerous long-term contracts al-

Services (COSL) and Well-Safe Solutions, which is based ready in place means Brazil continues to drive the South in the UK and primarily competes in the well interven- America region to remain at the top in terms of days con- tion and workover segments. Each of these three compa- tracted by region for 2026 at 33%. Approximately 77% of nies already has over 400 more days frmed up for 2026 South American foater days contracted for this year are than they did for 2025. for drillships, leaving 23% of the days going to semisubs.

Looking at 2026 backlog by rig manager, Transocean, While South America has nearly 14,000 days contract-

Noble Corporation, Seadrill and Valaris are the fve com- ed this year, it is a far cry from the second busiest foater panies with the most backlog for 2026. Despite a chang- region of the North Sea, which has around 7,400 days ing marketed feet size and competitor landscape over the booked. This represents about 17% of global days con- years, Transocean has held the top spot for over two de- tracted for 2026. Unlike South America, which is heavily cades. The company currently has a marketed feet of 23 skewed towards drillships, the North Sea foater days are managed foaters. all for semisubs. For this region, the work is more heav-

However, at present, Noble has the most backlog days ily weighted towards Norway, which accounts for 75% of booked for 2027 and 2028. Following the September 2024 contracted days, versus 25% for the UK.

JANUARY/FEBRUARY 2026 OFFSHORE ENGINEER 29