ADNOC Drilling, the UAE-based oilfield services company, has secured contracts worth up to $313.6 Mn for two offshore jack-up rigs from Kuwait Oil Company (KOC), according to a company press release.

The contracts cover Rig 1 and Rig 2 under a KOC tender, marking ADNOC Drilling’s entry into Kuwait’s offshore market and its first offshore rig operations outside the UAE.

The agreements provide for a four-year firm term, including mobilization, with an additional one-year extension option. Operations are expected to commence in the fourth quarter (Q4) of 2027.

The contracts are expected to make their first full-year financial contribution in 2028, while the anticipated contribution in 2027 has already been factored into the company’s previously announced preliminary guidance for that year.

The awards remain subject to applicable conditions and completion of the relevant contractual formalities.