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Saudi Arabia boosted drilling activity for the 18th consecutive month, hitting a record 126 rigs in April – up one on March. This steady ramp up since late 2013 saw Saudi Arabia raise hydrocarbon production to near-record levels in 2014 of 9.5mn b/d crude and 11.3bn cfd gas, from 9.4mn b/d and 11bn cfd respectively. And with state-energy giant Aramco set to focus the bulk of its spending on upstream activities over the coming decade, this is a figure that is likely to rise going forward (see p6).
In Abu Dhabi, drilling activity remains robust with 36 rigs active in April – just shy of the 30-plus year record of 37 rigs operating in November 2014. And this figure is only set to climb in the coming five years as part of state-owned Abu Dhabi National Oil Company’s (Adnoc) $25bn investment plan to raise production capacity from its offshore fields (MEES, 24 April). Adnoc says it is planning to drill around 160 wells per year over the coming two years. (CONTINUED - 584 WORDS)
DATA INSIDE THIS ARTICLE
|table||Saudi Arabia Rigcount Continues To Rise And Hits New Record 126 In April|