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Westwood Insight – The North Sea semisub market may seem buoyant, but looks can be deceiving

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The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand. Drilling contractors have and are continuing to recycle units that have been sitting idle, as well as re-positioning them to other geological areas where longer-term ...

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