Offshore rig demand has picked up in Asia with more units being reactivated, but a large number of these mobilised rigs are intended for operation in the Middle East.

Consultancy Westwood Global Energy said in a report that 2022 has witnessed a busier offshore rig market in the Asia Pacific region, even though local operators are not responsible for all the demand.

Several cold-stacked and stranded newbuild jack-ups are being reactivated but for contracts outside the region, primarily in the Middle East.