Saudi Rig Count Rebounds As Focus Turns Offshore

Saudi Arabia is stepping up offshore drilling. Aramco began awarding contracts to develop key offshore fields earlier this year ( MEES, 19 May ) as it looks to offset declines elsewhere and maintain crude production capacity of around 12.5mn b/d.

And it is set to make several further awards imminently, “we would expect… before the end of this year,” David Dickson, CEO of US offshore engineering specialist McDermott told his firm’s Q3 earnings call on 1 November. The firm is “anticipating another wave of bids coming from Saudi Aramco,” he adds.

McDermott is one of five firms/consortia prequalified to tender for projects offshore Saudi through Long Term Agreements: Italy’s Saipem, US firm Dynamic Industries, a JV of India’s L&T and Houston-based EMAS Chiyoda Subsea, and the UAE’s NPCC are the others. (CONTINUED - 1163 WORDS)


chart 1: Saudi Arabia Offshore Rig Count Hits 18-Month High In October
chart 2: Abu Dhabi Drilling At Record Levels In October As Oil Rig Count Hits Record 48
chart 3: Venezuela Rig Count Falls To 14-Year Low In October
chart Global* Offshore Rig Count: First Sign Of Rennaisance? October Up From Sep’s 10-Yr Low
table October Rig Count: Saudi Drilling Hits 9-Month High Led By 18-Month High Offshore Rig Count