UAE: Adnoc Drilling Bags $980m Contract for Offshore Resources

UAE: Adnoc Drilling Bags $980m Contract for Offshore Resources

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 and 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% of the award value will flow back into the UAE’s economy under Adnoc’s In-Country Value (ICV) program, 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 continues to be 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.”