🇸🇦Saudi Arabia runs the world's largest offshore oil field, and it doesn't need deepwater rigs to do it.
Safaniya, alongside Zuluf and Marjan, ranks among the largest offshore oil fields on Earth
All 3 sit in shallow Arabian Gulf waters, which is why Saudi Arabia runs jack-up rigs instead of the ultra-deepwater fleets used off Brazil or the Gulf of Mexico
5 contractors run that fleet: ARO Drilling, Valaris, Arabian Drilling Company, Shelf Drilling and ADES
Saudi Arabia doesn't need deepwater technology to lead offshore output.
Shallow water and scale already got it there.
$CL
$BZ
$NATGAS
#SilverDown52%FromJanuaryRecordHigh #US2YearYieldFalls14bpsBiggestDropSinceFebruary
Safaniya, alongside Zuluf and Marjan, ranks among the largest offshore oil fields on Earth
All 3 sit in shallow Arabian Gulf waters, which is why Saudi Arabia runs jack-up rigs instead of the ultra-deepwater fleets used off Brazil or the Gulf of Mexico
5 contractors run that fleet: ARO Drilling, Valaris, Arabian Drilling Company, Shelf Drilling and ADES
Saudi Arabia doesn't need deepwater technology to lead offshore output.
Shallow water and scale already got it there.
$CL
$BZ
$NATGAS
#SilverDown52%FromJanuaryRecordHigh #US2YearYieldFalls14bpsBiggestDropSinceFebruary