Seadrill already has 18 rigs under construction but is cautious about how deepwater drilling rates will develop.
Its second quarter report said: “Seadrill will refrain for the time being from ordering additional rigs until a clearer direction can be seen in the market.”
Seadrill, John Fredriksen’s largest company, says the near-term market for ultra-deepwater drilling units continues to be challenging.
This is partly driven by a reduction in exploration drilling that has led to a slower growth rate in overall upstream spending, it explains.
Seadrill’s
