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Seadrill sees tight rig market in coming 3 years
July 25, 2012 / 10:06 AM / 5 years ago

Seadrill sees tight rig market in coming 3 years

OSLO, July 25 (Reuters) - Seadrill, the world’s biggest offshore oil driller by market value, sees a tight rig market in the coming three years, and could order more new ultra-deepwater rigs, expecting to benefit from a booming market for oil exploration.

“We are fairly comfortable in our view that there are not enough rigs to cover the oil companies’ needs in the coming three years,” Tor Olav Troeim, the right-hand man of Seadrill’s controlling shareholder John “Big Wolf” Fredriksen, told Reuters on Wednesday.

“We are not afraid to order more,” he said. (Reporting by Joachim Dagenborg, writing by Victoria Klesty)

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