Adnoc unit wins $3.8bn Abu Dhabi onshore drilling contract


Abu Dhabi National Oil Company (Adnoc) has announced that one of its units, Adnoc Drilling Company has been awarded a contract worth $3.8 billion for a Abu Dhabi onshore project. The scope of work includes drilling, workover and other well services.

Abu Dhabi National Oil Company (Adnoc) has announced that one of its units, Adnoc Drilling Company has been awarded a contract worth $3.8 billion for its Abu Dhabi onshore project. 
 
As per the contract, the Adnoc unit will provide drilling, workover and other well services for a 5-year period, said the statement from the company.
 
Structured to drive efficiency in work crews, rig move time and maintenance scheduling, the contract benefits both Adnoc Drilling and Adnoc Onshore. 
 
It underpins Adnoc Drilling’s unique position as the sole drilling services provider to the Abu Dhabi oil giant and will advance its ambitious growth and expansion plans, the statement added.
 
On the contract win, Adnoc Drilling CEO Abdulrahman Abdullah Al Seiari said: "Adnoc Onshore is a valued and long-standing customer and this contract award further extends a 50-year profitable and unique partnership. I am delighted, that working together, we will continue to drive value for Adnoc and the UAE, delivering on the 2030 strategic production capacity and gas self-sufficiency targets."
 
"Advanced technologies and digitalisation are at the heart of this agreement, as ADNOC Drilling continues to improve efficiencies, drive further growth opportunities, while minimising our environmental footprint," he added.
 
Following its record ADX listing on October 3, Adnoc Drilling released its first earnings last month, showing strong and resilient growth for the third quarter and first nine months of the year. 
 
It is the only provider of fully Integrated Drilling Services (IDS) in the region and since 2018, the company has delivered more than $250 million of savings to its customers through the delivery of these wells. 
 
The company’s growth journey includes geographical expansion and further development of ADNOC Drilling’s Oilfield Services offering.