ADNOC Drilling Bags $1.53B Offshore Drilling Contract

Monday, October 10, 2022

Abu Dhabi National Oil Company (ADNOC) has awarded a $1.53 billion (AED 5.62 billion) contract to ADNOC Drilling, to expand ADNOC’s offshore operations and its objective to increase oil and gas production.

ADNOC offshore division 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.

"ADNOC Offshore and its strategic international partners continue to maximize 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," ADNOC said.

"Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) program, supporting local economic growth and diversification," ADNOC said.

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 foorprint 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 will support the expansion of ADNOC’s crude oil production capacity to five million barrels per day (mmbpd) by 2030 and gas self-sufficiency for the UAE. 

ADNOC Drilling has provided Integrated Drilling Services to ADNOC Offshore since 2019.  

Categories: Energy Middle East Drilling Industry News Activity Production Drilling Rigs

Related Stories

Norwegian Oil Investment Will Peak in '25

ADNOC Signs Long-Term LNG Deal with Hindustan Petroleum Corporation

CNOOC Brings New Offshore Gas Field On Stream

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Valeura Makes Progress with Multi-Well Drilling Campaign in Gulf of Thailand

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Valeura Concludes Eight-Well Drilling Campaign in Gulf of Thailand

Turkey Discovers New Black Sea Gas Reserve

Indonesia's Medco Starts Production at Natuna Sea Fields

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

Current News

Technip Energies Gets FEED Job for Inpex’ Abadi LNG Project in Indonesia

Keppel, Seatrium in $53M Arbitration Case Over Brazil Corruption Scheme

Subsea7 Secures Work at Black Sea Field off Türkiye

CIP, Petrovietnam Team Up for Offshore Wind Project in Vietnam

Seatrium Signs FLNG Vessel Upgrade Deal for Golar LNG

EnQuest Enters Indonesia with Operatorship PSCs for Two Exploration Blocks

PXGEO Nets First Seismic Survey off Malaysia

SPE Offshore Europe 2025 set to drive transformational change for the energy sector

Shipbuilder Delivers Fast Crew Boat Pair to Aesen

Norwegian Oil Investment Will Peak in '25

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com