Asia offshore drilling drops
India’s offshore is the only part of Asia likely to see activity perk up in the short term, as the slump spreads
OFFSHORE activity remains lacklustre across the continent, except in India. Excluding units being built, Asia has 227 delivered drilling rigs – semi-submersibles, drill ships and jack-ups – according to consultancy IHS. About a third of that total remain idle or stacked. The downturn has hit Southeast Asia the hardest. But in India drilling rig activity remains relatively robust, with the utilisation rate running at 93%, compared with 51% in Southeast Asia. India’s biggest oil firm, state company ONGC, is driving the country’s demand for rigs; part of its effort to maintain or even boost offshore production. The recent announcement of gas-pricing reform could even restart offshore gas develo
Also in this section
11 August 2025
The administration is pushing for deregulation and streamline permitting for natural gas, while tightening requirements and stripping away subsidies from renewables
8 August 2025
The producers’ group missed its output increase target for the month and may soon face a critical test of its strategy
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
