The latest contract covers the hire of two jack-up offshore rigs
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 awarded by its subsidiary Adnoc Offshore would 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 would 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 comprises 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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