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Wednesday 24-05-2023 19:09 pm
ABU DHABI, 24th May, 2023 (WAM) — ADNOC Drilling Company PJSC (ADNOC Drilling) announced today that it has signed an agreement worth US$75 million for the purchase of six newbuild hybrid land drilling rigs.
Honghua Gold Coast will build these drilling rigs and will gradually join the fleet starting from the second quarter of 2024, which will generate part of the revenue and EBITDA contribution in 2024, and all drilling rigs will realize the full-year contribution in 2025.
With this new contract, and following an announcement detailing an agreement for 10 newbuild hybrid rigs in March, ADNOC Drilling has ordered a total of 16 newbuild hybrid land rigs so far this year. All of these newbuild rigs are part of an interim guidance of 142 rigs by the end of 2024.
Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, commented: “As we implement our bold fleet expansion plans, we are working hard to ensure growth while delivering on our decarbonization commitments.
“The 16 newbuild hybrid rigs ordered so far this year are at the heart of ADNOC Drilling’s rigorous decarbonization strategy and our support for ADNOC’s goal of reducing greenhouse gas intensity by 25% by 2030 and the UAE’s Net Zero strategy initiative by 2050 The heart of the promise.”‘
The rig uses high-capacity batteries and engine automation in parallel with the rig’s traditional diesel generators. The Hybrid Technology system stores energy in the battery for use when continuous power is needed, or provides instant extra power when demand increases, reducing the rig’s greenhouse gas emissions by up to 15 percent compared to conventional rigs.
Each rig can be connected to the grid with minimal adjustments depending on the rig location and the availability of grid power, further reducing emissions.
The drilling rig is a 750HP fast desert mobile design hybrid workover land rig.
Tariq Farham / Mohammad Amir
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