Rig order hints at offshore recovery

IN another sign confidence is returning to the offshore drilling market, Seadrill has placed the largest order of rigs to date with Singapore's Jurong Shipyard (JSPL) in a deal worth more than $US1 billion.

JPSL, a Sembcorp Marine subsidiary, secured an $US384 million order for two turnkey jack-up rigs with options for another four jack-up rigs, taking the contract value to more than $1 billion.