Left: With very little new construction under way, the global rig fleet is getting steadily older. Excluding unplanned attrition, Westwood projects that the average drillship age will rise from 14 years in 2026 to 23 by 2036, semis from 25 to 31 and jackups from 24 to 33. Right: While there are still some jackup newbuilds under way, only three – represented in the graph for the years 2021, 2024 and 2025 – have firm contracts in place. These include jackups bound for Saudi Aramco as part of its 20-rig newbuild campaign. Source: Westwood RigLogix (Click the image to enlarge.)
