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flag The offshore rig market is recovering in 2026, led by Saudi Aramco’s restart plans and rising jackup demand despite ongoing idleness.

flag The offshore rig market, down in 2025 due to reduced activity in Saudi Arabia, Mexico, the UK North Sea, and Brazil, is showing signs of recovery in 2026. flag Saudi Aramco plans to restart eight suspended jackups and issue new tenders, while 355 rig years are already awarded for 2026, with 67 more in pending bids. flag A major merger expanded ADES International’s fleet to 83 units. flag Despite a 6% drop in total awards and a 44.2% decline in drillship contracts, demand is expected to grow, particularly for jackups, though many rigs remain idle after years of inactivity.

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