Owners operating in the Middle East are optimistic about the future opportunities for their offshore support vessels (OSVs). Demand for OSVs is strong and the market for these assets is steady and growing. State-run oil companies, such as Saudi Aramco and Abu Dhabi National Oil Co (Adnoc), are modernising the fleets of vessels they charter and continuing to invest in new offshore projects. There is also demand for OSVs from energy companies working in Qatar and the United Arab Emirates (UAE), while new opportunities are opening up in the Red Sea and offshore Oman.
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