Adnoc Drilling Secures $1.15 Billion Contract for Jackup Rigs
UAE-based Adnoc Drilling has recently announced a significant contract win with state-owned Abu Dhabi National Oil Company (ADNOC). The $1.15 billion deal involves providing two jackup rigs to ADNOC Offshore for a period of 15 years.
This contract is part of ADNOC Offshore’s strategic expansion plans and builds upon the strong partnership between the two companies. Over the past month, ADNOC Offshore has awarded Adnoc Drilling contracts totaling approximately $3.6 billion, highlighting the trust and confidence in the drilling company’s capabilities.
Adnoc Drilling expressed its satisfaction with the terms of the contract, citing attractive rates that are expected to drive long-term revenue and returns. The company sees these long-term agreements as a testament to the stability and sustainability of its business model.
The two new jackup rigs, equipped with the latest technology, have been prepared for operations at the Lamprell shipyard in Sharjah. Operations are scheduled to commence by the end of the second quarter, further solidifying Adnoc Drilling’s position as a leading player in the region.