Diamond Offshore Sees Solid Demand Outside U.S.

Printer Friendly Version

Diamond Offshore CEO Larry Dickerson said his company is seeing robust demand for offshore for its oil rigs outside of the U.S., indicating in an interview with CNBC today demand is strong in China, India and other industrialized nations. Dickerson added that the return of increased drilling in the Gulf of Mexico will be on an incremental basis.

''There's a lot of forces arguing for a slower return to drilling'' since the deepwater oil spill in the Gulf of Mexico 13 months ago, Dickerson said in the CNBC interview. ''Certainly the president has indicated he wants drilling to return.''

Texas-based Diamond Offshore (DO) recently signed a deal with Anadarko Petroleum (APC) for two new drillships that Anadarko will use in several offshore locations across the globe.

Demand is heavy in India and China ''and in all places that are industrializing'' including Brazil, which where it leads in number of rigs at 16, Dickerson said, CNBC reported. Dickerson added he believes oil will remain at prices that make compelling for producers to continue exploring.

Archives:200920102011201220132014