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 April 2025
The Gulf state’s offer to supply electricity-starved Syria is an opportunity to support a key ally, but Doha’s ambitions to build broader pipeline networks to Turkey and Europe face challenges
11 April 2025
As the global economy grows, demand for materials is expected to increase. The way materials are made could incorporate new technologies in the future to ensure economic growth is more sustainable
10 April 2025
Technology, policy and narrative are the three biggest factors that could change the course of our 2050 outlook
10 April 2025
Latin America’s largest economy expects big uptick in crude this year with the imminent arrival of several FPSOs
