Fossil Energy – Drilling
Abu Dhabi National Oil Company (ADNOC) today awarded a contract worth $1.53 billion to ADNOC Drilling.
The award supports the expansion of ADNOC’s offshore operations and its objective to responsibly increase production capacity and meet the growing global demand for reliable, lower carbon-intensity oil and gas.
ADNOC Offshore awarded the two-year contract which covers the provision of 12 jack-up rigs and two island rigs and the associated Integrated Drilling Services (IDS).
ADNOC Offshore and its strategic international partners continue to maximise value from Abu Dhabi’s offshore oil and gas resources and this award will leverage ADNOC Drilling’s start-to-finish offering as well as its position as the largest drilling company in the region by rig fleet size to drive value and efficiencies while minimizing environmental impact.
Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) programme, supporting local economic growth and diversification.