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. Of the 45 marketed rigs in Southeast Asia that are contracted or committed, six are destined for Saudi Arabia, according to Westwood. In addition, there are another four newbuilds that are also slated to move there. By the end of 2022 or early 2023,15 jack-ups will have departed Southeast Asia for contracts with Saudi Aramco. In Southeast Asia, the largest number of jack-up requirements are in Malaysia, followed by Indonesia and Vietnam.
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