Adnoc Drilling awarded contract to further unlock offshore resources

Adnoc Drilling awarded contract to further unlock offshore resources

Abu Dhabi National Oil Company (Adnoc) announced on Thursday the award of a contract worth $980 million (Dhs3.6 billion) to Adnoc Drilling to hire two jack-up offshore rigs and associated manpower and equipment. The contract, awarded by Adnoc Offshore, will support the expansion of Adnoc’s production capacity as it responds to the growing global demand for lower carbon-intensity oil and gas. Adnoc Drilling is the largest national drilling company in the Middle East by rig fleet size. This award will leverage the company’s world-class expertise and state-of-the-art rig fleet to further unlock the UAE’s offshore energy resources. Over 80 per cent of the award value will flow back into the UAE’s economy under Adnoc’s In-Country Value (ICV) programme, supporting local economic growth and diversification. Yaser Saeed Almazrouei, Adnoc Upstream Executive Director, said, “This award for the hire of jack-up rigs supports our ongoing efforts to responsibly unlock our lower carbon intensity oil and gas resources alongside our strategic international partners, and contribute to global energy security. Adnoc Drilling’s world-class capabilities remain a key enabler of these efforts. Importantly, this award will also deliver significant in-country value to drive economic growth and diversification, in line with the UAE leadership’s wise directives.”