ADNOC Drilling has signed an agreement to acquire two offshore jack-up drilling units for an undisclosed sum.
The two Gusto MSC-design, premium, independent leg cantilever rigs have been purchased from Well Target Five and Well Target Six.
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Part of the three-year capital expenditure guidance, the investment is part of the expansion strategy to achieve a production capacity of five million barrels per day (bpd) by the end of this decade.
ADNOC Drilling CEO Abdulrahman Abdullah Al Seiari said: “We are extremely pleased to have completed the acquisition of these two premium rigs, which will further bolster our position as a regional drilling leader and complement our already high quality offshore jack-up fleet.
“The new drilling units will join the ADNOC Drilling fleet and start operations in the third quarter [of] 2022, enabling considerable revenue for ADNOC Drilling to the benefit of our investors and the United Arab Emirates.”
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ADNOC Drilling has expanded its fleet to 104 rigs as of 31 March 2022, from 96 since its listing on the Abu Dhabi Securities Exchange in October last year.
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By GlobalDataEarlier this year, Adnoc awarded framework agreements, worth $1.94bn, for wireline logging and perforation services.
The agreements form part of Adnoc’s plan to enable drilling growth.
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