Sunday, 11 November 2012

Abu Dhabi's oil ambitions hit by rigs shortage - The National

A shortage of drilling rigs threatens to hold back Abu Dhabi's ambitious plans to expand oil production.

Operating companies and foreign partners in exploration projects privately complain of difficulty in securing rigs to develop resources in the emirate.

At the same time, the order books of local rig builders are swelling with demand. Lamprell and Petrofac, two fabricators with UAE shipyards, had a combined order backlog of US$10.9 billion (Dh40.03bn) by midyear, up from just under $9bn in 2010.

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