Adnoc Drilling lands $2bn worth of new contracts

Adnoc Drilling lands $2bn worth of new contracts

UAE-based Adnoc Drilling has won five 10-year contracts worth $2bn from state-owned Abu Dhabi National Oil Company (ADNOC).

The largest national drilling company in the Middle East by rig fleet size will support ADNOC Offshore’s growing drilling operations with five high-specification, premium jackups along with all required manpower and equipment.

The rigs will start activity progressively from the end of 2023, with significant revenue expected in 2024 and first full-year revenue contribution from 2025.

Adnoc Drilling said that the units will be among the most capable working in the Arabian Gulf and equipped with a battery energy storage system to increase efficiency and reduce emissions.

The new award follows more than $11.5bn in long-term contracts announced since the beginning of 2022.

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