Info&Trend

The Middle East, as a region which owns a considerable part of world oil reserves, is considered as an important center of investment for exploration and production companies as well as drilling service providers. More than half of the world oil reserves are located in five countries of Saudi Arabia, Iran, Iraq, Kuwait and UAE, and several thousand wells are being drilled, repaired or completed in this region yearly. This region is also the center of activity for at least 100 jack-up rigs as well as several hundred onshore drilling rigs. Although most international drilling companies have focused on the region, some successful and powerful regional companies have grown in the recent decades. National oil companies, eastern and western giant oil companies, regional and local E&P role players, drilling service providers, consultants and drilling tool manufacturers, have chosen the region as a hub for their activities. Abundance of oil and gas resources as well as low production cost leads to great activity of companies even when the oil price falls and investments in the oil fields decreases. Despite the relative depression, the development of fields in Iran, Iraq, Oman, Qatar and other countries are continued strongly. The drilling companies are still working and not much fluctuations are observed in comparison to the other important world oil hub, i.e. North America. All the mentioned subjects lead the Drilling Magazine as the upstream information reference for the Middle East focusing on drilling section, having special regard for the region in this issue. The documents you see, consist of the information of the main regional drilling role players. Major policies of drilling industries such as number of wells and active drilling rigs will also be investigated. The information of main regional fields is then presented which are chosen based on size and amount of oil-in-place. The figures which are presented in the following pages are able to illustrate the prospect of the upstream activities in this important hub which is certainly important for all the stakeholders of this industry.

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