It was recently announced that ADNOC (Abu Dhabi National Oil Company) had added an additional 2 rigs to its already 97 strong fleet. ADNOC has a goal to grow to around 122 rigs by 2032.
It is expected that thousands of wells will be drilled in the coming years and the stated aim is to increase production to around 5 million barrels per day.
With huge, multi-billion dollar contracts, this region is expected to be a major player for many years to come. Here we give a brief overview of the region and the latest drilling rig news, taking information from TROVE Middle East.
TROVE Middle East contains details of all offshore oil and gas fields and discoveries from Yemen, Saudi Arabia, Qatar, Kuwait, Oman, Iran, UAE, Iraq and Bahrain. With information on almost 900 assets, this is the most comprehensive technical subsurface database for the Middle Eastern region. We have several other TROVE databases ensuring complete global offshore coverage, along with a significant onshore area. See our coverage map here: https://www.1stsom.com/trove