The number of active offshore rigs in the Gulf has fallen to the lowest level since January 2011. Excluding Iran, for which accurate data is not available, just 25 drilling rigs were active in the region in October, according to Baker Hughes data.
Of these, just 10 were active off Saudi Arabia, also the lowest figure in almost 10 years (see chart). The UAE also had 10 rigs for October, the lowest since August 2014, whilst Qatar accounted for the remaining five. (CONTINUED - 1011 WORDS)