Middle East Drilling Demand Growth Scaled Back

Maritime Strategies International (MSI) has scaled back its Middle East Gulf region jackup drilling demand growth after Saudi Aramco suspended contracts for over 20 jackups. Saudi Aramco's surprise move came in the wake of the country’s decision to pause further expansion of its oil production capacity. MSI now expects growth in the region to clock in at 1%, down from its previous estimate of 4%, thanks to healthy levels of activity in Qatar and the UAE as they look to meet their respective oil and gas production targets. The…