Louisiana Parishes Want Oil Rig Repair Work

The work has gone to other states, and Louisiana voters overwhelmingly elected to waive taxes on these rigs. According to state research, Diamond Offshore spent $1.2 billion in rig refurbishing work from 1997 to 2002, and it spent only $12 million of that in Louisiana.

Oil rig utilization is currently increasing, and since drillers have relationships with other shipyards, it may take some time for new work comes to the state.