BAKU, Azerbaijan, Feb.24
By Leman Zeynalova - Trend:
In Azerbaijan, drilling should be up 13 percent this year, with increases expected both onshore and offshore, Trend reports citing World Oil.
“Kazakhstan will be up modestly, anchored by additional development drilling at Tengiz field. The former Soviet Union countries, other than Russia, will be up 3.9 percent this year,” World oil said in its 2020 Forecast - International Drilling and Production.
The report shows that global drilling, excluding the US, will edge up 0.3 percent without Canada, the rate of increase jumps to 2.1 percent.
“Global offshore drilling is forecast to rise 4.7 percent, with increases expected in every region except North America.
After two years of improvement in global drilling outside the US, the number of wells drilled last year fell 4 percent to 43,734,” said World Oil.
This year, World Oil predicts that global drilling will inch up 0.3 percent, to 43,879 wells. “Offshore activity continues to rebound, with a 4.7 percent pick-up to 2,411 wells forecast.”