It seems to complex for that, and I don't really see a pit.

My best guess is that it is temporary housing for the folks drilling Abu Jifan. The perimeter fence is clearly designed to keep the dunes out, especially with the configuration of the gate.

Before, I go any further, I have to defer to people that are much better at this than I am, in general and you in particular, but take a look at the upper left corner. Isn't that a fairly significant excavation?

Here is its sister site to the south. There is much less activity, but certainly the same thing.

Well, if those ponds scattered all over aren't oil they have to be fire ponds. That means they're doing something there that tends to blow up a lot.

At the top left of the original site are three tanks with a filling station. They look a lot like liquefied gas storage of some sort.