*Latest rig count data from services firm Baker Hughes confirms that Saudi Arabia and Qatar are getting expansion programs back on track with a boost to drilling. But upstream developments in neighboring Kuwait are going nowhere fast.
*Key contractors Saipem and Subsea 7 told their Q1 results calls in late April that whilst 2020’s halt to key Saudi offshore developments had blown a hole in last year’s revenue, they were already seeing signs of a restart in activity (MEES, 30 April). This is corroborated by the latest Baker Hughes figures which show the Saudi Rig count rising by six to a seven-month high 66 for May. (CONTINUED - 541 WORDS)