ADNOC awards $1bn contract to ADNOC Drilling
Abu Dhabi National Oil Company (ADNOC) has awarded a contract worth $980mn to ADNOC Drilling to hire two jack-up offshore rigs and associated manpower and equipment, the company said on October 13.
The contract, awarded by ADNOC Offshore, will support the expansion of ADNOC’s production capacity “as it responds to the growing global demand for lower carbon intensity oil and gas”.
This award brings the total value of awards from ADNOC Offshore to ADNOC Drilling in 2022 to $5.95bn. In October, ADNOC Drilling was awarded a contract worth $1.52bn for jack-up and island rigs and associated integrated drilling services. This followed two awards in August worth $3.43bn to hire eight jack-up rigs.
ADNOC said it is aiming to expand production capacity to 5mn barrels/day by 2030 and enable gas self-sufficiency for the UAE.