Today's Edition
ABU DHABI (ALETIHAD)
ADNOC Drilling has secured a major $1.15 billion contract from ADNOC Offshore for the deployment of two new jack-up rigs, a statement from the company said.
The contract, which spans 15 years, marks the third significant award to ADNOC Drilling in just over a month, the statement said.
The two advanced rigs are equipped with the latest technologies, including artificial intelligence, automation, and real-time data systems. Designed for maximum efficiency and performance, the rigs are expected to reduce operational costs and improve safety.
The rigs were prepared for service at the Lamprell shipyard in Sharjah and are scheduled to begin operations by the end of the second quarter of 2025, generating revenue in the second half of the year, the statement said.
Commenting on the award, ADNOC Drilling CEO Abdulrahman Abdulla Al Seiari said the contract reflects confidence in the company’s technical strength and commitment to value creation. He noted that integrating advanced technologies into the rigs will enhance operational performance and support ADNOC’s production capacity goals. “This contract secures operations until 2040 and beyond,” he added, “ensuring strong, stable returns for our shareholders.”
ADNOC Offshore CEO Tayba Abdul Rahim Al Hashemi emphasised the importance of ADNOC Drilling’s fleet and integrated services in achieving ADNOC’s production growth targets. She noted that the company has awarded long-term contracts worth around $3.6 billion in just one month, highlighting the trust placed in ADNOC Drilling’s capabilities.
With 47 offshore rigs, ADNOC Drilling operates one of the world’s largest offshore drilling fleets, the statement said.
The addition of the two new rigs is part of ADNOC Drilling’s fleet expansion strategy, which focuses on delivering high-quality, locally supported solutions.
“The company is committed to building In-Country Value and contributing to the UAE’s economic development by fostering partnerships and encouraging local innovation,” the statement said.
ADNOC Drilling, listed on the Abu Dhabi Securities Exchange under the symbol ADNOCDRILL, is the region’s largest provider of drilling services and owns one of the most comprehensive drilling fleets in the world. Since 2018, it has offered integrated drilling services (IDS), covering the full range of drilling operations from start to finish.
