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

PTTEP Orders OneSubsea Systems for Two Deepwater Projects off Malaysia

Hibiscus Petroleum Starts Drilling at Teal West Field off UK

Chinese Contractor Secures Offshore Oil and Gas ‘Mega Deal’ from QatarEnergy

Norwegian Oil Investment Will Peak in '25

Saipem Wins FEED Contract For Abadi LNG Project FPSO Module In Indonesia

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

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

Santos and QatarEnergy Agree Mid-Term LNG Supply

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Current News

PTTEP Orders OneSubsea Systems for Two Deepwater Projects off Malaysia

Russia's Lukoil Takes Up Gunvor’s Offer for Foreign Assets

How Hot Is Your Cable? Understanding Subsea Cable Thermal Performance

Sponsored: UAE Breaks Ground on GW-Scale Renewable Energy Hybrid

Pertamina Joins Petronas in Ultra-Deepwater Asset off Indonesia

Malaysia’s Petronas and Oman’s OQEP Strengthen Oil and Gas Ties

Southeast Asia’s 2GW Cross-Border Offshore Wind Scheme Targets 2034 Buildout

Pharos Energy Kicks Off Drilling Campaign Offshore Vietnam

Viridien to Shed More Light on Malaysia’s Offshore Oil and Gas Potential

US Pressure on India Could Propel Russia's Shadow Oil Exports

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