Adnoc Drilling clinches $1.5bn contract

Adnoc Drilling has won a new contract worth $1.53bn to support the expansion of Adnoc’s offshore operations and crude oil production capacity to 5m bpd by 2030.

The two-year contract covers the provision of 12 jackup rigs and two island rigs and the associated integrated drilling services (IDS).

The driller in August also secured a 15-year deal worth more than $3.4bn for the hire of eight jackups.

Since listing on the Abu Dhabi Securities Exchange in October last year, Adnoc Drilling has expanded its fleet from 96 to 105 owned rigs by end-July this year. It owns one of the largest operating fleets of offshore jackup rigs, with 32 units, and said earlier it had plans for further fleet growth.

“This award will leverage Adnoc Drilling’s start-to-finish offering as well as its position as the largest drilling company in the region by rig fleet size to drive value and efficiencies while minimising environmental impact,” ADNOC said in a statement.