OSLO, Feb 11 (Reuters) – As a lot as one third of the worldwide offshore fleet of oil drilling rigs could possibly be idled in 2016 as vitality companies cut back investments on the again of weak crude costs, the top of Danish conglomerate A.P. Moller-Maersk’s rig unit mentioned on Thursday.

“I would probably estimate that we have in 2016 between 25 percent to one third of the fleet suffering from idle times,” Maersk Drilling Chief Executive Claus Hemmingsen advised Reuters.

“The current outlook for the oil companies bringing new projects to the market is very uncertain and not very optimistic … there will be oversupply in the foreseeable future,” he added.

Shares of some impartial rig house owners corresponding to Norway’s Seadrill have dropped by greater than 90 % within the final two years as the value of crude plunged by round three quarters. (Reporting by Ole Petter Skonnord, writing by Terje Solsvik, modifying by Gwladys Fouche)

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