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September 1, 2022

ADNOC awards $1.83bn worth of contracts for drilling-related services

ADNOC expects the framework agreements to contribute to its efforts to expand its oil and gas production capacity.

Abu Dhabi National Oil Company (ADNOC) has signed framework agreements, worth $1.83bn (AED6.72bn), with five companies to provide drilling-related services.

The agreements for directional drilling and logging while drilling (LWD) services have been signed with Al Mansoori Directional Drilling Services, Al Ghaith Oilfield Supplies and Services Company, Schlumberger Middle East, Haliburton Worldwide Limited Abu Dhabi, and Weatherford Bin Hamoodah.

The five-year agreements have an option for a further two year extension and cover the onshore and offshore fields operated by ADNOC.

ADNOC said the agreements will support its efforts to boost its low carbon oil and gas production capacity to help address the surging demand across the globe.

By the end of this decade, ADNOC aims to drill thousands of new wells to expand its production capacity to five million barrels per day and help the UAE achieve gas self-sufficiency.

ADNOC Upstream executive director Yaser Saeed Almazrouei said: “As ADNOC responds to rising global energy demand, we are responsibly ramping up drilling activities to further unlock Abu Dhabi’s oil and gas resources, which have some of the lowest carbon intensity in the world.

“These awards build on our ongoing investments in drilling services and they will deliver substantial in-country value for the nation to support economic growth and diversification, in line with the UAE Leadership’s wise directives.”

Last month, ADNOC Drilling secured contracts, worth over AED12.6bn ($3.4bn), from ADNOC’s subsidiary ADNOC Offshore to charter eight jack-up rigs for offshore operations.

The jack-up rigs are planned to be deployed at ADNOC’s offshore fields that account for approximately half of the firm’s production capacity.

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