ADNOC plans to acquire ‘dozens’ of rigs as part of expansion programme

ADNOC Drilling, part of Abu Dhabi National Oil Company (ADNOC), has announced a major rig fleet expansion program to support its growth plans.

Having just acquired four land rigs valued at over $100m, the company says it plans to acquire dozens of additional land, offshore, and island rigs by 2025.

Abdulmunim Saif Al Kindy, ADNOC upstream executive director and chairman of ADNOC Drilling, said: “ADNOC Drilling’s rig fleet expansion underscores ADNOC’s drive to unlock and maximize value from Abu Dhabi’s vast hydrocarbon resources and will further improve drilling and well-completion efficiencies. The program is a pivotal enabler of our plans to substantially increase drilling for conventional oil and gas as well as considerably ramp up the number of unconventional wells, as we grow our oil production capacity and work to achieve gas self-sufficiency for the UAE.”

ADNOC currently owns 20 jackup rigs, but did not reveal the extend of growth planned for its offshore rig fleet.