Adnoc Drilling purchases three high-specification jack-up rigs – Gulf Today

Adnoc Drilling purchases three high-specification jack-up rigs – Gulf Today

The acquisition underpins the company’s accelerated fleet expansion and enterprising growth strategy. WAM

Adnoc Drilling Company on Monday announced that it has signed an agreement to acquire an additional three brand new high-specification offshore jack-up drilling units (the “rigs”).

The cost of the acquisition is part of the Company’s three-year guidance on capital expenditure and its strategic growth plans.

The acquisition underpins the company’s accelerated fleet expansion and enterprising growth strategy.

Earlier sale and purchase agreements were signed on May 30 (for two rigs),  June 10 (one rig) and Aug.24 (one rig).

The latest three rigs have a combined cost of $320 million (Dhs1.17 billion) and are premium high-specification jack-up rigs. Abdulrahman Abdullah Al Seiari, Chief Executive Officer of Adnoc Drilling, commented, “We continue to execute our bold growth strategy as a key enabler of ADNOC’s ambitious production capacity targets. The latest acquisition of these premium rigs