Abu Dhabi Awards Surge in Drilling Contracts

Abu Dhabi Awards Surge in Drilling Contracts

Arabian Post -The Abu Dhabi National Oil Company (ADNOC) has seen a significant uptick in drilling contract awards in 2024, signaling potential growth for the emirate’s oil and gas sector. According to reports, a total of 196 contracts have been awarded so far this year, amounting to a cumulative value of 3. 4 billion dirhams. Analysts attribute this surge to several factors, including ADNOC’s ongoing expansion plans and the […]

via Abu Dhabi Awards Surge in Drilling ContractsArabian Post -

The Abu Dhabi National Oil Company (ADNOC) has seen a significant uptick in drilling contract awards in 2024, signaling potential growth for the emirate’s oil and gas sector. According to reports, a total of 196 contracts have been awarded so far this year, amounting to a cumulative value of 3. 4 billion dirhams.

Analysts attribute this surge to several factors, including ADNOC’s ongoing expansion plans and the need to maintain production capacity in light of global energy market fluctuations. The company has embarked on several ambitious projects to enhance its upstream capabilities, which has necessitated the awarding of new drilling contracts.

The increase in drilling activity is expected to have a positive impact on various sectors of the Abu Dhabi economy. Local