Adnoc Drilling Expands Rig Fleet
Adnoc Drilling, a subsidiary of the state-run Abu Dhabi National Oil Company (Adnoc), has embarked on a rig fleet expansion programme to support its parent's upstream growth plans, Adnoc said November 14.
In the first phase of the wider expansion programme, Adnoc this month acquired four UAE-built land rigs with a total value of over $100mn. “Following the integration of the four rigs, which will join the fleet in the first quarter of 2020, Adnoc Drilling plans to acquire dozens of additional land, offshore, and island rigs by 2025,” Adnoc said.
The expansion programme was announced at the 15th annual Rig Owners Seminar, which is organised by Adnoc Drilling in cooperation with DNV GL and held on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference.
“The programme 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,” Abdulmunim Saif Al Kindy, chairman of ADNOC Drilling, said.
The four new rigs acquired in November will be deployed at Adnoc’s onshore fields, which currently contribute more than 50% of Adnoc’s daily Murban oil production capacity.