ADNOC Drilling awards $1.53 bn contract

To boost ADNOC's offshore operations
ADNOC Drilling awards $1.53 bn contract
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The Abu Dhabi National Oil Company (ADNOC) today announced the award of a contract worth 5.62 billion dirhams ($1.53 billion) to ADNOC Drilling.

This contract supports the expansion of ADNOC’s offshore operations and aims to increase production capacity to meet the growing global demand for reliable, low-emissions energy sources.

The scope of the two-year contract awarded by ADNOC Offshore includes the provision of 12 self-propelled rigs, two island rigs, and related integrated drilling services.

More than 80 percent of the contract value will be redirected to the local economy through ADNOC’s In-Country Value (ICV) program, supporting economic growth and diversification in the UAE.

On this occasion, Yasser Saeed Al Mazrouei, CEO of ADNOC’s Exploration, Development, and Production Department, said: “Through this contract, ADNOC Offshore will continue to benefit from Abu Dhabi’s offshore energy resources in a responsible manner and support ADNOC’s efforts to increase oil production the capacity to meet the increasing global demand for low-emission energy resources.”

This contract supports ADNOC’s efforts to increase crude oil production capacity to 5 million barrels per day by 2030 and achieve gas self-sufficiency for the UAE. The high competitiveness, comprehensive capabilities, and global technical expertise of ADNOC Drilling contributed to a significant increase in the operational efficiency of ADNOC’s offshore operations.