Southeast Asia's Jack-Up rig market outlook: Remains positive for 2025 - 2026
• In 2024, the utilization rate of jack-up rig in Southeast Asia remained high at around 90%, indicating market stability despite short-term fluctuations.• We expect drilling demand to remain strong during 2025–2026, with utilization rates ranging between 80% and 90%. Vietnam is expected to lead the region in the coming period, driven by the implementation of several key oil and gas projects such as Block B, Su Tu Trang, Dai Hung, Lac Da Vang, and Hai Su Vang.
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