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

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

Velesto’s Jack-Up Rig Set for Drilling Job off Indonesia

Velesto’s Jack-Up Rig Up for Drilling Job Offshore Vietnam

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Hanwha Ocean Marks Entry into Deepwater Drilling Market with First Drillship

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Valeura Wraps Up Infill Drilling Campaign in Gulf of Thailand

Current News

MODEC, Carbon Clean to Advance FPSO-Mounted Carbon Capture Tech

Aker Solutions, PTAS JV Hooks Brownfield Services Extension off Brunei

CDWE Wraps Up Pin Pile Installation Job for Taiwanese Offshore Wind Farm

BP Expands Oil and Gas Scope in Azerbaijan with New Projects and Exploration Rights

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

TPAO, SOCAR and BP to Ink Caspian Sea Oil and Gas Production Deal

Fugro Lands Deepwater Gas Field Job in Southeast Asia

OMV Exits Ghasha Gas Project off UAE with Lukoil Stake Sale

China's Sinopec Laucnhes $690M Hydrogen Venture Capital Funds

CIP, ACEN Partner Up for First Large-Scale Offshore Wind Farm in Philippines

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