ADNOC awards AED6.72bn of agreements for drilling-related services

Announced contracts are largest of their kind in oil and gas
ADNOC awards AED6.72bn of agreements for drilling-related services
Drilling equipment

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts for directional drilling and well measurement services totaling 6.72 billion dirhams ($1.83 billion).

These framework agreements support the need to drill thousands of new wells to achieve the goal of increasing its production capacity of crude oil to 5 million barrels per day by 2030, the company said in a statement today. 

These contracts, which were announced today, are the largest of their kind in the oil and gas sector and were awarded through competitive bidding to “Al Ghaith Oilfield Services and Services Company”, “Al Mansouri Directed Drilling Services Company” (Al Mansouri) and “Schlumberger East” Middle SA” (Schlumberger), “Halliburton International Company Limited”, Abu Dhabi (Halliburton), and “Weatherford Bin Hamouda LLC” (Weatherford).

These contracts cover the above-mentioned services for ADNOC’s onshore and offshore fields for a period of five years with an option to extend for two years with the same terms and conditions, and more than 75 percent of their value will be redirected to the local economy during the duration of their validity through the ADNOC program to enhance the local added value, the statement said.