The world’s largest oil field contrac-tors are predicting strong growth in demand for their services in the east-ern hemisphere this year as upstream operators accelerate exploration and development activity. The number of active drilling rigs outside North America will increase by 10pc to average 1,430 this year,led by the Middle East and Asia-Pacific, according to US service provider Baker Hughes.The company sees the eastern hemisphere more than making up for slow revenue growth in the Americas. The Middle East and Asia-Pacific make up the only region where Baker Hughes’profit margin grew last year, and its revenue there rose by 24pc to $4bn.“The Middle East and Asia have evolved into an opportunity-rich area, more than I can ever remember,”chief executive Martin Craighead says.
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