Friday 18 November 2022

The energy crisis that has arisen during 2022 and the mounting importance of energy security has reinforced that the exploration for and production of oil and gas will likely continue to play an essential part of the energy mix over the coming decades.

2022 has brought with it a continued increase in jackup, semisubmersible (semi) and drillship demand, utilisation, and dayrates, which have all reached highs not witnessed since 2014, and Westwood anticipates further increases through to 2026. This means that emissions from the offshore drilling fleet, if unimpeded, will rise as more units are put to work.

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