ADNOC Drilling has secured a contract worth $1.53bn (AED5.62bn) from Abu Dhabi National Oil Company (ADNOC) to support the expansion of offshore operations.
The two-year contract covers the provision of 12 jack-up rigs, two island rigs, and the associated Integrated Drilling Services (IDS).
ADNOC expects the contract to support its offshore operations expansion plan and help meet the surging global demand for reliable, lower carbon intensity oil and gas.
It is also expected to support the firm’s plans to boost its crude oil production capacity to five million barrels per day by the end of this decade.
In a press statement, ADNOC said: “ADNOC Drilling has provided IDS to ADNOC Offshore since 2019. The company’s highly competitive position, integrated capabilities, and technical expertise have helped increase the efficiency of ADNOC’s offshore operations.”
ADNOC upstream executive director Yaser Saeed lmazrouei said: “ADNOC Drilling is a world leader in drilling and completion services. Their deep expertise and wide technical capability will maximise value and minimise the environmental foorprint of every well as ADNOC expands its production capacity. The substantial in-country value generated through this contract will support the directives of our wise leadership to grow and diversify the UAE economy.”
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The contract will see ADNOC Drilling leverage its start-to-finish offering, as well as its position to drive value while reducing environmental impact.
Last month, ADNOC Drilling agreed to acquire two additional premium offshore jack-up drilling units that have a combined cost of $140m.