Saudi, UAE, Oman Hit Drilling Records But US Rig Count Free-Fall Continues

> Saudi Arabia, the UAE and Oman have ploughed on with upstream investment despite a halving of revenue with the collapse in oil prices over the past year (see p9). All hit drilling records in November according to oilfield services firm Baker Hughes: Saudi was up two from October at 127, the UAE up six at 54 (of which Abu Dhabi 52), while Oman’s rig count rose from 68 to 72 (see graph and table).

> The UAE plans to increase drilling further in 2016. ‘Abd al-Mun’im al-Kindi, CEO of Abu Dhabi state firm Adco says he expects his firm to be running 67 rigs next year, up from 50 this.


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