Saudi Aramco is driving the increased demand for jack-up rigs in the Middle East as the Saudi state company expands its fleet to help boost production capacity.
The Saudi state company accounted for 67% of the 58 jack-up fixtures recorded in the region, according to consultancy Clarksons.
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Aramco is aiming to boost its production capacity to 13 million barrels per day of oil by 2027, up from the current 12 million bpd, with the output increase requiring up to 40 drilling rigs for multiple campaigns this year, as well as the 40 contracted last year.