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The Abu Dhabi National Oil Company (Adnoc) said it has awarded two contracts worth more than US$3.4 billion (AED12.6 billion) to Adnoc Drilling to lease eight jack-up offshore drilling rigs.
Adnoc Offshore awarded contracts worth US$1.5 billion (AED5.6 billion) and US$1.9 billion (AED7 billion) to support the expansion of Adnoc’s crude oil production capacity to 5 million barrels per day (mmbpd) by 2030, and Achieving gas self-sufficiency in the UAE.
During the 15-year contract period, Adnoc Drilling’s state-of-the-art drilling fleet will enable Adnoc and its strategic international partners to further unlock Abu Dhabi’s offshore oil and gas resources for Adnoc, its partners and the UAE.
Under Adnoc’s successful Domestic Value (ICV) scheme, more than 80% of the reward value will flow back into the UAE economy, supporting local economic growth and diversification.
Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of Adnoc, said: “This world-leading investment will significantly expand our drilling activities to accelerate growth, drive value and responsibly unlock the UAE resources to meet rising global energy demand. Adnoc Drilling’s state-of-the-art fleet and market-leading capabilities will be key drivers as Adnoc strengthens its position as a leading low-cost and low-carbon energy producer. We focus on Achieving our 2030 Strategy to support the direction of our wise leadership to grow and diversify the UAE economy.”
The jack-up rig will be leased along with manpower and equipment to support drilling operations at Adnoc’s offshore fields, which account for about half of Adnoc’s production capacity. Adnoc Drilling is the largest national drilling company in the Middle East with 105 owned rigs, including 27 offshore jack-ups, making it one of the largest jack-up rig fleets in the world.
The company’s large drilling fleet and market-leading expertise remain key drivers in winning and servicing large drilling contracts for clients such as Adnoc Offshore and unlocking the vast potential of Abu Dhabi waters.
Adnoc recently awarded two other major contracts totaling US$2 billion (AED7.49 billion) with Adnoc Drilling to provide integrated drilling services and island drilling rigs at its Hail and Ghasha gas development projects. – arab trade news agency
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