ADNOC Drilling awarded $3.4bn worth of new contracts

ADNOC Drilling has won two new contracts worth more than $3.4bn for the long-term hire of eight jackup offshore rigs.

The contracts, valued at $1.5bn and $1.9bn, were awarded by ADNOC Offshore to support the expansion of Abu Dhabi National Oil Company (ADNOC)’s crude oil production capacity to 5m bpd by 2030 and enable gas self-sufficiency for the UAE.

The undisclosed rigs from ADNOC Drilling’s 27-strong jackup fleet will be hired for 15 years along with manpower and equipment to support drilling operations across ADNOC’s offshore fields, which account for about half of its production capacity.

ADNOC Drilling was recently successful in securing two further substantial contracts totalling $2bn for integrated drilling services and the provision of island drilling units at ADNOC’s Hail and Ghasha gas development project.