Abu Dhabi National Oil Company (ADNOC) has announced the award of a contract worth $980 million (AED3.6 billion) to ADNOC Drilling to hire two jack-up offshore rigs and associated manpower and equipment.
The contract, awarded by ADNOC Offshore, will support the expansion of ADNOC’s production capacity as it responds to the growing global demand for lower carbon intensity oil and gas.
This comes three days after another ADNOC announcement that it had awarded ADNOC Drilling a contract worth $1.53 billion (AED5.62 billion) for a two-year contract that covered the provision of 12 jack-up rigs and two island rigs and the associated integrated drilling services.
Yaser Saeed Almazrouei, ADNOC Upstream Executive Director said: “This award for the hire of jack-up rigs supports our ongoing efforts to responsibly unlock our lower carbon intensity oil and gas resources, alongside our strategic international partners, and contribute to global energy security.”
This award brings the total value of awards from ADNOC Offshore to ADNOC Drilling in 2022 to $5.95 billion (AED21.84 billion) to maximise value from Abu Dhabi’s offshore oil and gas resources.
The October contract to ADNOC Drilling followed two awards in August worth $3.43 billion (AED12.59 billion) to hire eight jack-up rigs.
ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size. Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) program, supporting local economic growth and diversification.
ADNOC Offshore is supporting ADNOC’s drive to expand production capacity to five million barrels per day (mbpd) by 2030 and enable gas self-sufficiency for the UAE. ADNOC Drilling’s rig fleet spans 105 owned rigs, including 28 offshore jack-up units, one of the largest operational jack-up fleets in the world.
The company’s expansive rig fleet and expertise are key drivers in its ability to win and service large-scale drilling contracts for customers such as ADNOC Offshore.
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