Offshore Oil Drilling Market To Suffer Through

 

Offshore Oil Drilling Market To Suffer Through 2015

A sluggish offshore drilling market could deteriorate further next year due to weak demand and a flood of new vessels, even though a few places such as Mexico and Brazil remain promising for exploration, industry executives said on Wednesday, Sep.10, 2014.

 

"The market is going to be bad this year, it is going to be worse next year, then it will be stabilising," Rune Magnus Lundetrae, chief financial officer (CFO) of Seadrill, the world's biggest driller by market capitalisation, said on the sidelines of an industry conference.


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