ADNOC continues fleet expansion with $70m jackup buy

UAE-based Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, has acquired another jackup rig for $70 million.

The acquisition is in addition to three rigs acquired earlier this year, with 2018-built jackup pair SMS Mariam and SMS Faith acquired in May and Aban Offshore’s 2009-built jackup Deep Driller 8 acquired for $28m in June.

ADNOC Drilling said the rig acquisition program is central to the company’s strategic plan to substantially grow its business over the coming years.

Abdulrahman Abdullah Al Seiari, chief executive officer of ADNOC Drilling, commented: “The acquisition of this additional premium drilling unit is central to our bold growth strategy and the rig will support us in delivering on our commitments to shareholders.

“Over the past 50 years, ADNOC Drilling has grown in size, stature and capability. Our position today, as owner and operator of one of the largest offshore jack-up fleets in the world is testament to the expertise of our people and the visionary leadership of the UAE.”