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The great offshore rig scramble

THE fortunes of big oil companies may have taken a beating in the recent quarterlies but robust results from offshore drilling rig contractors show that despite macroeconomic uncertainty, the deepwater rig market is poised for a battle royale as oilies scramble to secure contracts. <b> By Gomati Jagadeesan</b>

The great offshore rig scramble

The major oil and gas explorers have faced volatility in the energy markets with sustained low US natural gas prices hitting the bottom lines of many companies, including BP and Shell - which was reflected...

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