Plain sailing for Gulf offshore
Saudi Arabia and the UAE are pressing on with offshore drilling activity despite the slump
OFFSHORE rig activity in the Gulf is standing up surprisingly well to the stiffening breeze of austerity from a sustained period of low global oil prices. Saudi Arabia and the UAE in particular continue to offer opportunities for service companies that are fast vanishing in other corners of the globe. Saudi oil minister Ali Al-Naimi insists that while the kingdom is being forced to take a range of cost-cutting measures, energy-sector development plans will continue. It is understandable, he said in October 2015, that “when prices fall, companies and governments reduce expenditure. But sustained and steady investment is important for an industry with such long-term horizons.” His business-as-
Also in this section
5 December 2025
Mistaken assumptions around an oil bull run that never happened are a warning over the talk of a supply glut
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
