Monday, October 10, 2022 – 8:18 am
– The award of the contract contributes to supporting ADNOC’s efforts to increase production capacity and meet the growing global demand for reliable and low-emissions energy sources.
Redirecting more than 80% of the total value of the contract to the local economy through the “ADNOC” program to enhance the local added value.
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ABU DHABI, 10th October/WAM/ The Abu Dhabi National Oil Company (ADNOC) announced today the award of a contract worth 5.62 billion dirhams (US$1.53 billion) to ADNOC Drilling.
This contract supports the expansion of ADNOC’s offshore operations and the goal of increasing production capacity to meet the growing global demand for reliable, low-emissions energy sources.
The scope of the two-year contract awarded by ADNOC Offshore includes the provision of 12 self-propelled rigs and two island rigs, as well as related integrated drilling services.
As ADNOC Offshore and its international strategic partners continue to work to increase value from Abu Dhabi’s offshore oil and gas resources, this contract aims to benefit from ADNOC Drilling’s capabilities in providing integrated drilling services and its position as the largest drilling company in the region in terms of the number of pieces of its rig fleet. To enhance value and increase efficiency while reducing the environmental impacts associated with drilling operations.
More than 80% of the contract value will be redirected to the local economy through ADNOC’s In-Country Value (ICV) program, supporting economic growth and diversification in the UAE.
On this occasion, Yasser Saeed Al Mazrouei, CEO of ADNOC’s Exploration, Development and Production Department, said: “Through this contract, ADNOC Offshore will continue to benefit from Abu Dhabi’s offshore energy resources in a responsible manner and support ADNOC’s efforts to increase capacity. oil productivity to meet the increasing global demand for low-emission energy resources.ADNOC Drilling is a world leader in drilling and well preparation services. Its long experience and high technical capabilities will contribute to enhancing value and reducing environmental impacts associated with operations. Increasing its production capacity, the significant in-country added value of this project will contribute to the implementation of the directives of our wise leadership to support growth and economic diversification in the country.”
This contract supports ADNOC’s efforts to achieve the goal of increasing crude oil production capacity to 5 million barrels per day by 2030 and achieving gas self-sufficiency for the UAE. The high competitiveness, comprehensive capabilities and global technical expertise of ADNOC Drilling contributed to a significant increase in the operational efficiency of ADNOC’s offshore operations.
It is noteworthy that ADNOC Drilling has succeeded, since it announced the provision of integrated drilling services in 2018, in saving more than 917.5 million dirhams (US$250 million) to its customers, through the completion of integrated drilling operations and the construction and preparation of wells efficiently.
Dina Omar / Ahmed Al Nuaimi