ID :
123840
Mon, 05/24/2010 - 13:40
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https://oananews.org//node/123840
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UAE oil equipment and contractor demand rises
Oil equipment manufacturers and contractors in the UAE say they are seeing an increasing demand for their products and services.
Propelling the demand is work on new gas fields in the region and brisk work on fields in Central Asia where many of the oil equipment contractors based in the UAE are currently working.
A year after UAE-based oil rig makers and contractors reported one of the worst ever utilisation rate, there are reports that the situation has considerably improved.
"We are getting new orders – especially from Abu Dhabi. And it's orders from gas fields that are driving the markets," said Cory Marion, the Commercial Director of Top Oilfield, a company based in Hamariyah Free Zone, Sharjah.
According to latest reports, the US$10 billion (Dh36.73bn) Shah gas field project is probably the most prominent project that is attracting contracting companies to the region. Besides, there are gas exploration projects in Qatar that UAE-based companies are interested in.
The CEO of an energy equipment manufacturing company said he is seeing more orders for refurbished rigs. "We are getting more orders for rigs that were taken off the field because the company concerned was not in a position to continue with the project," he said.
Emirates Business had reported in July last year that some of the top industry leaders did not see orders for jack-up rigs being placed for a considerable period of time. A jack-up is a drilling rig used in offshore oil exploration and production.
At that time industry insiders had said the last order for a jack-up rig was in September 2008 and that the last order went to a Sharjah-based company. "It was indeed very bad last year," said a senior official of a Jebel Ali-based energy equipment manufacturing company.
According to ODS-Petrodata, which provides news on energy intelligence across the world, the total number of rigs in the drilling fleet in the Middle East currently stands at 122, up from 118 a month ago and from 106 a year ago. The fleet utilisation rate in the region stands at 77 per cent, data showed.
On the global scale, the total number of mobile offshore drilling rigs is 760, about 597 of which are under contract currently, ODS-Petrodata said. Worldwide fleet utilisation is unchanged at 78.6 per cent. – Emirates Business 24|7
Propelling the demand is work on new gas fields in the region and brisk work on fields in Central Asia where many of the oil equipment contractors based in the UAE are currently working.
A year after UAE-based oil rig makers and contractors reported one of the worst ever utilisation rate, there are reports that the situation has considerably improved.
"We are getting new orders – especially from Abu Dhabi. And it's orders from gas fields that are driving the markets," said Cory Marion, the Commercial Director of Top Oilfield, a company based in Hamariyah Free Zone, Sharjah.
According to latest reports, the US$10 billion (Dh36.73bn) Shah gas field project is probably the most prominent project that is attracting contracting companies to the region. Besides, there are gas exploration projects in Qatar that UAE-based companies are interested in.
The CEO of an energy equipment manufacturing company said he is seeing more orders for refurbished rigs. "We are getting more orders for rigs that were taken off the field because the company concerned was not in a position to continue with the project," he said.
Emirates Business had reported in July last year that some of the top industry leaders did not see orders for jack-up rigs being placed for a considerable period of time. A jack-up is a drilling rig used in offshore oil exploration and production.
At that time industry insiders had said the last order for a jack-up rig was in September 2008 and that the last order went to a Sharjah-based company. "It was indeed very bad last year," said a senior official of a Jebel Ali-based energy equipment manufacturing company.
According to ODS-Petrodata, which provides news on energy intelligence across the world, the total number of rigs in the drilling fleet in the Middle East currently stands at 122, up from 118 a month ago and from 106 a year ago. The fleet utilisation rate in the region stands at 77 per cent, data showed.
On the global scale, the total number of mobile offshore drilling rigs is 760, about 597 of which are under contract currently, ODS-Petrodata said. Worldwide fleet utilisation is unchanged at 78.6 per cent. – Emirates Business 24|7
