ADNOC Drilling acquires two new jack-up rigs for $220m

ADNOC Drilling acquires two new jack-up rigs for $220m

ADNOC Drilling, the Middle East region’s largest national drilling company by rig fleet size, has acquired two offshore jack-up rigs for $220m to support ’s accelerated production capacity growth. The acquisition is part of ADNOC Drilling’s fleet expansion and growth strategy, which is a key enabler of ADNOC’s accelerated production capacity growth to meet rising global energy demand. The drilling firm said the rigs will be delivered into Abu Dhabi waters and become operational during the fourth quarter of 2023 with meaningful revenue contribution expected from 2024. The two additional drilling units will almost double the company’s offshore jack-up rig fleet since early 2021, with further significant expansion expected from now till the end of 2024. “The acquisition of these premium jack-up rigs will support one of our major customers, ADNOC Offshore, with its drilling and completion services requirements, as it delivers accelerated production capacity. It is the next step in the execution of our strategy to grow our business rapidly, significantly boost revenue and increase shareholder returns,” said Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling. “These rigs further cement our position as one of the world’s largest offshore jack-up rig fleet owners and support our plan to grow