ADNOC Drilling to Buy Three New Jack-up Rigs for $320M

OE Staff
Monday, November 21, 2022

UAE-based offshore drilling contractor ADNOC Drilling said Monday it had agreed to buy three "brand new" premium offshore jack-up drilling rigs for $320 million, "with further acquisitions in the pipeline."

The company said the rigs would meet the UAE national oil company ADNOC’s plan to raise and sustain production capacity.

"The acquisition underpins the company’s accelerated fleet expansion and enterprising growth strategy. Earlier sale and purchase agreements were signed on 30 May (for two rigs), 10 June (one rig) and 24 August (one rig)," ADNOC Drilling said.

Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, said: “We continue to execute our bold growth strategy as a key enabler of ADNOC’s ambitious production capacity targets. The latest acquisition of these premium rigs will be central to our success, and cement our position as one of the world’s largest jack-up rig fleet owners, as we strive to significantly boost revenues and shareholder returns over the coming years.”

Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30 September 2022. 

"With the addition of the latest three high-specification rigs the company will operate one of the largest offshore jack-up fleets in the world, with 30 rigs, and plans further growth in the short term," ADNOC Drilling said. The company did not say who the seller of the latest three rigs was.


Categories: Energy Middle East Drilling Industry News Activity Drilling Rigs

Related Stories

Shell Hires Noble’s Drillship for Work in Southeast Asia

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

ADNOC Secures LNG Supply Deal with India's BPCL

Japan's Mitsui Eyes Alaska LNG Project

US Operator Finds Oil Offshore Vietnam

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

AI & Offshore Energy: The Higher the Stakes, the More Value AI Creates

Transocean’s Drillship to Stay in India Under New $111M Deal

Sapura Scoops Petrobras Contract for Pan-Malaysia Offshore Services

Keppel Reclaiming Control of 13 Rigs to Cash In on Offshore Drilling Market's Growth

Current News

Argentina YPF to Shed Offshore Exploration Projects

Cairn India Might Invest in US Oil Servicing Firms to Increase Production

All Gas from Conrad’s Mako Field to be Sold to Indonesia’s PLN

ORE Catapult and Japan’s FLOWRA to Jointly Advance Floating Wind

Shell Hires Noble’s Drillship for Work in Southeast Asia

Second Hai Long Substation Heads to Project Site Offshore Taiwan

Shell Launches Next Phase of Malaysia's Deepwater Project with First Oil Production

CNOOC Discovers ‘Vast Exploration Prospects’ in China’s Beibu Gulf Basin

China Unveils Plans for New Offshore Wind Farms to Tackle Carbon Emissions

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

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