Adnoc Drilling signs deal to boost performance of land rigs – The National

Adnoc Drilling signs deal to boost performance of land rigs – The National

Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, signed a deal with US-based contract drilling company Helmerich & Payne to improve the Abu Dhabi company’s land rig operational performance.

The Rig Enablement Framework Agreement between the two companies will also support Adnoc Drilling’s growth and expansion plans, it said in a statement on Monday to the Abu Dhabi Securities Exchange, where its shares are traded.

Focused on improving drilling efficiencies and saving operational costs, the framework agreement builds on the asset purchase deal and initial public offering cornerstone investor pact the two companies announced in September.