ADNOC Drilling awarded $2 billion in contracts for Hail, Ghasha Gas Development Project

ADNOC Drilling awarded $2 billion in contracts for Hail, Ghasha Gas Development Project

ABU DHABI, 27th July, 2022 (WAM) -- Abu Dhabi National Oil Company (ADNOC) today announced the award of two substantial contracts totalling $2 billion (AED7.49 billion) to ADNOC Drilling for the Hail and Ghasha Development Project.

The contracts comprise $1.3 billion (AED4.89 billion) for integrated drilling services and fluids and $711 million (AED2.6 billion) for providing four Island Drilling Units. A third contract, valued at $681 million (AED2.5 billion), was also awarded to ADNOC Logistics & Services for providing offshore logistics and marine support services.

Overall, more than 80% of the value of the awards will flow back into the UAE's economy under ADNOC's successful In-Country Value (ICV) program and all three of the contracts will cover the Hail and Ghasha drilling campaign for a maximum of ten years.

The Hail and Ghasha Development Project is part of the Ghasha Concession, which is the world's largest offshore sour gas development and a key component of ADNOC's integrated gas masterplan as well as an important enabler of gas self-sufficiency for the UAE.

Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, said, "These substantial awards mark another important milestone in the delivery of the Ghasha