A subsidiary of the Abu Dhabi National Oil Company (ADNOC), ADNOC Drilling, said that it is expanding its fleet, in line with the company’s 2030 Smart Growth Strategy, Gulf News reported.
ADNOC acquired four new cutting-edge land rigs with a total value of over Dh 350 million, which will be added to the fleet in Q1 2020. ADNOC Drilling plans to acquire dozens of additional land, offshore, and island rigs by 2025.
ADNOC Drilling’s CEO, Abdalla Saeed Al Suwaidi, said “[ADNOC’s] rig fleet has expanded more than three-fold in less than a decade, from 29 rigs in 2010 to our current 95 rigs.”
“The next phase of expansion will further strengthen ADNOC Drilling’s capabilities and reinforce our key role of supporting the ADNOC Group in capturing more value from every barrel of oil it produces,” he added.
ADNOC Upstream Executive Director and Chairman of the Board of Directors of ADNOC Drilling, Abdulmunim Saif Al Kindy, said, “ADNOC Drilling’s rig fleet expansion underscores ADNOC ’s drive to unlock and maximize value from Abu Dhabi’s vast hydrocarbon resources and will further improve drilling and well-completion efficiencies.”