ADNOC Drilling Awarded $3.4B Contracts to Expand Offshore Production Capacity

Source: www.gulfoilandgas.com 8/4/2022, Location: Middle East

Abu Dhabi National Oil Company (ADNOC) announced today two contracts totalling more than $3.4 billion (AED12.6 billion) have been awarded to ADNOC Drilling to hire 8 jack-up offshore rigs. The contracts, valued at $1.5 billion (AED 5.6 billion) and $1.9 billion (AED 7 billion) respectively, awarded by ADNOC Offshore, will support the expansion of ADNOC’s crude oil production capacity to five million barrels per day (mmbpd) by 2030 and enable gas self-sufficiency for the UAE.

Over the life of the 15-year contracts, ADNOC Drilling’s state-of-the-art rig fleet will enable ADNOC and its strategic international partners to further unlock Abu Dhabi’s offshore oil and gas resources, creating significant value for ADNOC, its partners and the UAE.

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

His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said: “This world-leading investment will significantly expand our drilling activity to accelerate growth, drive value and responsibly unlock the UAE’s resources in response to globally rising demand for energy. ADNOC Drilling’s state-of-the-art fleet and market-leading capabilities, will be a key enabler as ADNOC strengthens its position as a leading low-cost and low-carbon energy producer. We are focused on delivering on our 2030 strategy, in support of the directives of our wise leadership to grow and diversify the UAE’s economy.”

The jack-up rigs will be hired along with manpower and equipment to support drilling operations across ADNOC’s offshore fields, which account for about half of ADNOC’s production capacity. ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size, with 105 owned rigs, including 27 offshore jack-up units, one of the largest operational jack-up fleets in the world.

The company’s expansive rig fleet and market leading expertise remain key drivers in its ability to win and service large-scale drilling contracts for customers such as ADNOC Offshore, and to enable the unlocking of significant potential in Abu Dhabi’s waters.

ADNOC recently awarded ADNOC Drilling two further substantial contracts totalling $2 billion (AED 7.49 billion) for integrated drilling services and the provision of Island Drilling Units at its Hail and Ghasha Gas Development Project.


Brazil >>  9/30/2022 - Maersk Drilling has secured a contract from Shell Brasil for the provisioning of the semi-submersible rig Mærsk Developer in the Campos basin offshore...
Malaysia >>  9/26/2022 - Maersk Drilling has secured a contract extension with Sarawak Shell Berhad and Sabah Shell Petroleum Co Ltd (SSB/SSPC) for the 7th generation drillshi...

Denmark >>  9/23/2022 - Maersk Drilling has been awarded a contract with INEOS E&P A/S for the provisioning of the harsh-environment jack-up rig Maersk Resolve to drill two d...
Suriname >>  9/22/2022 - TotalEnergies E&P Suriname, Suriname Branch has exercised an option to add the drilling of one additional well in Block 58 offshore Suriname to the wo...

United Kingdom >>  9/22/2022 - Archer has secured a five year contract for the provision of platform drilling operations and maintenance services on seven installations with an oper...
United Kingdom >>  9/22/2022 - Longboat Energy, the emerging full-cycle North Sea E&P company, is pleased to announce that a rig contract has been signed for the drilling of the Vel...




Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.