(WO) – Land drilling rig demand within the Center East is forecast to rise 60% from 2025 ranges by 2035, as international demand grows and the rig fleet shrinks, based on Westwood World Power Group’s World Land Drilling Rig Outlook 3Q 2026. The report, Westwood’s first quarterly version and its first with a 10-year forecast, tasks common international demand of about 4,250 rigs a yr from 2026 to 2030. That determine rises to just about 4,550 from 2031 to 2035, 12% above the 2021–2025 common. As older rigs retire, Westwood expects international utilization to climb from a mean of 48% in 2026–2030 to 53% in 2031–2035.
Within the Center East, Westwood forecasts demand will attain about 820 rigs by 2035. Drilling has been disrupted in 2026, however the agency expects a restoration from 2027, led by Saudi Arabia and by a UAE not certain by OPEC quotas. Continued funding in unconventional gasoline and crude capability enlargement will help that restoration.
“The battle within the Center East has considerably disrupted drilling exercise this yr, significantly in Iraq,” mentioned Ben Wilby, analysis supervisor, onshore vitality companies, at Westwood. “A return to 2025 ranges of rig demand will depend upon regional safety stabilizing and dependable entry to export routes. However, operators proceed to make long-term commitments to the area, giving us confidence in its progress prospects as soon as situations enable.”
Latin American rig demand is forecast to rise 54% to about 260 models by 2035. Argentina’s Vaca Muerta shale play is anticipated to develop from 84 rigs in 2025 to 113. Venezuela’s demand is projected to develop greater than 600% over the identical interval, backed by operator funding plans, U.S. authorities help and partial sanctions reduction. Westwood famous, nonetheless, that infrastructure, workforce and provide chain constraints stay.
Westwood additionally expects high-horsepower rigs to common 64% utilization over 2026–2035, in contrast with 35% for lower-horsepower models, as operators goal deeper and extra complicated reservoirs. That hole is driving the redeployment of underused U.S. rigs to progress markets equivalent to Argentina, Australia and the Center East. “Operators are drilling deeper, extra complicated wells and more and more need trendy expertise and automation to enhance effectivity and security,” Wilby mentioned. “Contractors want to ensure their fleets meet more and more demanding operator specs in the event that they need to capitalize on that progress.”
