Adnoc Drilling secures $1.53b contract to boost operations

Adnoc Drilling secures $1.53b contract to boost operations

Abu Dhabi National Oil Company (Adnoc) on Monday awarded a contract worth $1.53 billion (Dhs5.62 billion) to Adnoc Drilling. The award supports the expansion of Adnoc’s offshore operations and its objective to responsibly increase production capacity and meet the growing global demand for reliable, lower carbon-intensity oil and gas. Adnoc Offshore awarded the two-year contract which covers the provision of 12 jack-up rigs and two island rigs and the associated Integrated Drilling Services (IDS). Adnoc Offshore and its strategic international partners continue to maximise value from Abu Dhabi’s offshore oil and gas resources and this award will leverage Abu Dhabi National Oil Company Drilling’s start-to-finish offering as well as its position as the largest drilling company in the region by rig fleet size to drive value and efficiencies while minimising environmental impact. Over 80 per cent of the award value will flow back into the UAE’s economy under Abu Dhabi National Oil Company’s successful In-Country Value (ICV) programme, supporting local economic growth and diversification. Yaser Saeed Almazrouei, Abu Dhabi National Oil Company Upstream Executive Director, said, “Through this award, Abu Dhabi National Oil Company Offshore will continue to responsibly harness the energy in Abu Dhabi’s waters, as we increase production