Analyst: Offshore rig utilization likely won’t return to 2014 levels until 2019-2021

Although North American unconventional production has grown rapidly in recent years, this resource alone will likely not fill the supply gap that will result from the projected decline in mature field production and increase in global oil demand. This leaves a key place for offshore oil in the global supply mix, Marcel Brinkman, Partner at McKinsey and Company, said on 17 June at IADC World Drilling 2015 in Rome. In this exclusive video interview with DC, Mr Brinkman shares his outlook for floaters and jackups and how moderating newbuild orders and coldstacking rigs can bring the offshore market back into balance.