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Innovation in any industry should result in being able to do something more efficiently, less costly, with increased performance, or, ideally, all three. In the offshore industry, as operators wade into ever-increasing water depths accompanied by ever-increasing costs, drilling contractors, rig designers and equipment manufacturers assist in that effort by developing bigger, or sometimes smaller, but efficient equipment for deep and ultra-deepwater regions. Most of the innovation of making rigs and equipment better is aimed at the floating rig market, although one company has designed a jackup that is rated to drill in nearly 600 ft of water in North Sea conditions. Another company with deepwater drillship designs has a concept for a rotating cantilever for jackup rigs.
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