The United Arab Emirates’ National Drilling Company has signed contracts worth $543 million to buy 14 new rigs, state news agency WAM reported on Sunday.
One offshore and one onshore rig, worth $203 million, will be built in the UAE, WAM said, quoting the company’s chief executive Abdullah Saeed al-Suwaidi.
The onshore rig deal was signed with National Oilwell Varco , while the offshore one went to Lamprell.
A third deal was signed with China Petroleum Technology & Development Corporation for 12 rigs, Suwaidi said.
The new contracts are part of the UAE company’s expansion plans and also the result of growing demand from its customers, it said.