Offshore rig count for March 2016 declined 33.4% when compared to March 2015, and 5% compared to February 2016.
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Image from Baker Hughes Twitter. |
According to Baker Hughes, there were a total of 241 vessels operating last month, down 5% from February’s 254; and down 33.4% from March 2015’s 362 vessels in offshore waters.
Latin America saw the biggest fall month-on-month. In March 2016, there were 40 rigs operating, a 20% decline from February 2016’s 50. Year-on-year, Latin America had 67 vessels, representing a 40% drop.
Africa experienced the largest decline year-on-year. Although its month-to-month (February to March) rig count remained the same at 20, the country suffered a 50% drop from March 2015, going from 40 to 20 rigs.
The Middle East fell 14% month-on-month from 50 rigs in February, to 43 rigs in March. Year-on-year, rig activity decreased 17% from 52 rigs.
Europe had the biggest increase month-on-month with an additional two vessels, going from 36 rigs in February, to 38 in March. The country did fall 31% year-on-year, from 55 vessels.
The US increased by one vessel month-on-month from 26 to 27 rigs operating offshore. Year-on-year, there was a 37% drop from 43 vessels.
Asia also went up by one more vessel month-on-month, from 69 to 70, representing a 1.4% increase. However, there was a 31% decrease when compared to last year, decreasing from 102 vessels.
Offshore Canada remained the same at three vessels year-on-year, and month-on-month.
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