Press Esc to close



For full content view: Log in Now!

  • Newbuild Report: High oil prices continue to fuel the offshore rig construction boom

    Thomas E. Marsh

    The boom in offshore rig construction continues, despite evidence that, in the jackup market, supply will exceed demand, and owners may have to scramble a little more than they expected to keep all of their rigs working. The current offshore rig construction cycle began in earnest in 2005. In the four years preceding, a total of 18 offshore rigs were ordered. In 2005, the number jumped to 48. Last year, 58 new mobile offshore drilling units were ordered, and year-to-date rig owners and investors have ordered 55 rigs, including jackups, semisubmersibles and drillships, Fig. 1. The 166 mobile offshore rigs ordered since the beginning of 2005 will represent about a 29% increase in fleet size, once all rigs are delivered. Can the fleet absorb this excess capacity? Yes and no. According to data compiled for ODS-Petrodata’s World Rig Forecast - Short Term Trends report, the floating rig market will be undersupplied...

This area of the site is restricted. In order to gain access, please either Log In, or subscribe to World Oil.

Two options are available to you for creating an account.

1. Get a Free Trial Subscription to World Oil Magazine and gain immediate access to select content on World Oil Online.

Start a Free Trial Subscription and gain immediate access to the complete current issue of World Oil Magazine. Plus, you’ll receive 3 upcoming issues of World Oil Magazine in print or digital format.* You also receive access to the Energy Events Calendar, Industry Statistics and WO Wire’s news and industry coverage.

Free Trial

2. Purchase a subscription to World Oil magazine and gain immediate and complete access to World Oil Online. As a Total Access subscriber you will have access to all areas of the site available to registered users and free subscribers as well as having access to such premium content areas as:

  • The Archives section containing over ten years of complete magazine archives,
  • The WO DataHub's engineering tables and directories,
  • The World Oil annual forecasts, including past predictions,
  • Select World Oil technical handbooks,
  • And much, much more!


Physical copies of this content may be available for purchase. Visit the Reprints & Back Issues section.

If you are already a paid subscriber and do not have access, please email



Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.


2013 Fracturing Technology

2013 Fracturing Technology