ADNOC Drilling has been given a contract worth $1.53 billion (AED 5.62 billion), according to a statement from the Abu Dhabi National Oil Company (ADNOC). The award supports ADNOC’s goal to responsibly enhance production capacity and fulfil the rising global demand for dependable, low-carbon oil and gas, as well as the expansion of its offshore operations.
The two-year contract, which includes the provision of 12 jack-up rigs, two island rigs, and the related Integrated Drilling Services (IDS), was given to ADNOC Offshore. By utilizing ADNOC Drilling’s start-to-finish service and its position as the largest drilling company in the area by rig fleet size, this award will help ADNOC Offshore and its strategic international partners continue to maximize value from Abu Dhabi’s offshore oil and gas resources. This will increase value and efficiency while reducing environmental impact.
Under ADNOC’s successful In-Country Value (ICV) initiative, more than 80% of the award value will be reinvested in the UAE’s economy, fostering regional economic expansion and diversification.
Yaser Saeed Almazrouei, ADNOC Upstream Executive Director, said: “Through this award, ADNOC Offshore will continue to responsibly harness the energy in Abu Dhabi’s waters, as we increase production capacity to meet the world’s growing demand for energy with lower carbon intensity oil and gas. ADNOC Drilling is a world leader in drilling and completion services. Their deep expertise and wide technical capability will maximize value and minimize the environmental footprint 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.”
This award would help ADNOC increase its capacity for producing crude oil to five million barrels per day by 2030 and ensure UAE gas self-sufficiency. Since 2019, ADNOC Drilling has offered IDS to ADNOC Offshore. The efficiency of ADNOC’s offshore operations has increased because to the company’s highly competitive position, integrated capabilities, and technical experience.
With the successful end-to-end delivery of drilling and completion services, ADNOC Drilling has helped its customers to save more over $250 million (AED917.5 million) since the company introduced its IDS offering in 2018.