Adnoc Drilling secures $1.53bn contract to boost Adnoc’s offshore operations – The National

Adnoc Drilling secures $1.53bn contract to boost Adnoc’s offshore operations – The National

Adnoc has awarded a $1.53 billion contract to Adnoc Drilling to support the expansion of the parent company's offshore operations and its goal of boosting crude oil production capacity to five million barrels per day by 2030 amid growing global demand for oil and gas with a lower carbon intensity.

The two-year contract awarded by Adnoc Offshore covers the provision of 12 jack-up rigs, two island rigs and the associated integrated drilling services, the state oil company said on Monday.

More than 80 per cent of the award value will flow back into the UAE economy under Adnoc’s In-Country Value programme.