Abu Dhabi National Oil Company (Adnoc) has awarded Adnoc Drilling a AED3.6bn ($980m) contract for the hire of two jack-up offshore rigs and associated manpower and equipment.
Adnoc said in a statement that the contract, which was awarded by its subsidiary Adnoc Offshore, will support the expansion of its production capacity as it responds to the growing global demand for lower carbon-intensity oil and gas. The company added that over 80 per cent of the award value will flow back into the UAE’s economy under Adnoc’s In-Country Value (ICV) programme.
The award brings the total value of awards from Adnoc Offshore to Adnoc Drilling in 2022 to AED21.84bn.
Earlier in October, Adnoc Drilling secured a AED5.58bn contract to provide jack-up and island rigs and associated Integrated Drilling Services. This followed two awards in August totalling AED12.59bn to hire eight jack-up rigs.
Adnoc Drilling’s rig fleet has 105 owned rigs, including 28 offshore jack-up units. The company raised over $1bn with an initial public offering (IPO) in 2021.
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