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.


DON'T HAVE AN ACCOUNT?


NEED TO UPGRADE YOUR CURRENT SUBSCRIPTION?

By upgrading your Print or Digital subscription you will gain access to the MEES Archives Database with past articles and data dating back from 1984.

UPGRADE