Abu Dhabi, October 13 (BNA) The Abu Dhabi National Oil Company (ADNOC) announced today that it has signed a contract worth $980 million (AED 3.6 billion) for ADNOC Drilling to lease offshore drilling rigs, manpower and related equipment. .
The contract, awarded by ADNOC Offshore, will support the expansion of ADNOC’s production capacity as it responds to growing global demand for low-carbon oil and gas.
ADNOC Drilling is the largest national drilling company in the Middle East in terms of the size of the rig fleet, the Emirates News Agency (WAM) said in reports published today.
This award will leverage the company’s world-class expertise and advanced rig fleet to unleash the UAE’s offshore energy resources.
More than 80% of the award value will go back to the UAE economy under the ADNOC In-Country Value Programme, supporting local economic growth and diversification.
ADNOC’s global drilling capabilities remain a key factor in enabling these efforts. Most importantly, this award will also provide significant value within the country to drive economic growth and diversification, in line with the wise guidance of the UAE leadership.”
This award raises the total value of contracts awarded by ADNOC Offshore to ADNOC Drilling in 2022 to $5.95 billion (AED 21.84 billion) to maximize the value of Abu Dhabi’s offshore oil and gas resources.
In October, ADNOC Drilling was awarded a $1.52 billion (Dh5.58 billion) contract to provide drilling rigs, islands and associated integrated drilling services. This follows two awards in August worth $3.43 billion (12.59 billion UAE dirhams) for the lease of eight rigs.
ADNOC Offshore supports ADNOC’s endeavors to expand its production capacity to five million barrels per day by 2030 and enable gas self-sufficiency for the UAE, and ADNOC Drilling is essential to achieving these strategic goals.
ADNOC Drilling’s fleet of 105 owned rigs, including 28 offshore cranes, is one of the largest operating fleets of cranes in the world. The company’s extensive fleet of drilling equipment and experience are key factors in its ability to win large-scale drilling contracts and serve clients such as ADNOC Offshore.
insult