The Middle East jackup market has slowed after escalating regional conflict disrupted offshore drilling activity across the Arabian Gulf. Westwood said rig suspensions, delayed drilling campaigns and contract terminations pushed marketed fleet utilization down sharply, delaying the expected recovery in 2026.
COOEC completed fabrication of the Saudi Aramco CRPO149 jacket at Qingdao yard, marking a milestone for its first full EPCI lump-sum offshore project with Saudi Aramco.
Borr Drilling said four jack-up rigs in the Middle East are on standby amid the current regional situation. Three units in Qatar and the UAE were downmanned, while Arabia III was shut down safely after a 7 March 2026 incident.
Next Geosolutions’ Rana Subsea agreed a Middle East Letter of Intent for SAT diving valued at about $150 million, alongside the fleet entry of NG Supporter via the Siem Day acquisition.
