Rig Demand Improving For West Africa

Rigzone reported that the waters off West Africa, where much of the product meets the qualitative demands of European refineries, is far becoming one of the primary regions for ever-increasing exploration to satisfy the world’s appetite for oil.

The market news is quoted as saying:

Demand for deepwater rigs should continue to trend favorably over the next two years. During 2010, the number of floaters active in the region averaged 23 rigs. In the most recent month completed, August 2011, 25 deepwater rigs were drilling off the coastline of West Africa or nearly a 10 percent increase over last year. At its current pace, West Africa will likely only trail Brazil for the highest deepwater rig growth of any region tracked by RigLogix during 2011.

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