ADNOC awards Dh5.62b contract to drilling subsidiary for offshore expansion project

ADNOC awards Dh5.62b contract to drilling subsidiary for offshore expansion project

Dubai: Abu Dhabi’s energy giant ADNOC awarded a Dh5.62 billion contract to ADNOC Drilling, to support expansion of offshore operations. The two-year contract covers for the provision of 12 jack-up rigs and two island rigs and associated Integrated Drilling Services (IDS). The latest project award also takes into account to ‘responsibly increase production capacity and meet the growing global demand for reliable, lower carbon intensity oil and gas’. The latest contract will support further expansion of ADNOC’s crude oil production capacity to 5 million barrels per day (mmbpd) by 2030 and gas self-sufficiency for the UAE. ADNOC Drilling has provided IDS to Since ADNOC Drilling launched the IDS in 2018, the Abu Dhabi company has enabled more than Dh917.5 million in savings 'through the successful end-to-end delivery of drilling and completion services'. ADNOC Drilling has provided IDS to ADNOC Offshore since 2019. “ADNOC Offshore will continue to responsibly harness the energy in Abu Dhabi’s waters, as we increase production capacity to meet the world’s growing demand for energy with lower carbon intensity oil and gas,” said Yaser Saeed Almazrouei, the Upstream Executive Director at ADNOC. Over 80 per cent of the award value will flow back into the UAE’s economy