Rig Count - Jan 06

Non-OPEC rig count stood at 2,675 rigs in December, which represents a decrease of 35 rigs compared to the previous month. Of the total, 247 rigs were operating offshore and 2,428 onshore. In terms of oil and gas split, 833 rigs were drilling for oil, a drop of 32 from the previous month, while the rest was drilling for gas. Regionally, North America lost 39 rigs and Western Europe dropped 1 rig, while the Middle East, Africa, Latin America and rest of Asia gained 5 rigs. The average rig count in 2005 was 2,479 rigs, one of the highest levels in 20 years.

OPEC rig count was 298 in December, representing an increase of 6 rigs over the previous month. Gains took place in Saudi Arabia (2), UAE (1) and Venezuela (4), which were partially offset by declines in other OPEC Countries. Of the total, 222 rigs were operating onshore and 76 rigs offshore. In terms of oil and gas split, there were 243 oil rigs while the remainder was gas and other rigs. In 2005, OPEC rig count averaged 276, the highest level since 1997.