ADNOC Drilling plans to acquire dozens of rigs by 2025 to support ADNOC’s oil production capacity target of 5 million bpd by 2030
Abu Dhabi’s offshore drilling contractor ADNOC Drilling has boosted its offshore drilling rig feet with the arrival of two new high-specification jack-up rigs.
Al Jurf and Dana
The new jack-up rigs, Al Jurf and Dana, have arrived to the waters of United Arab Emirates, ahead of joining ADNOC Drilling’s operational fleet.
Four new rigs by(NOV)
The four new rigs acquired in November 2019 were manufactured in the UAE by National Oilwell Varco (NOV) and will be deployed in ADNOC’s onshore fields, which currently contribute more than 50 percent of ADNOC’s daily Murban oil production capacity.
Acquiring UAE-built rigs, underpins ADNOC’s In-Country Value strategy, aimed at the growth and diversification of the UAE’s economy. The rig additions take the value of UAE-built rigs in ADNOC Drilling to more than AED 7 billion ($1.9 billion).
Plans to acquire dozens of rigs
ADNOC Drilling plans to acquire dozens of rigs by 2025 to support ADNOC’s oil production capacity target of 5 million bpd by 2030
Rig fleet expansion will further improve drilling and well-completion efficiencies, underscoring ADNOC’s drive to unlock and maximize value from Abu Dhabi’s vast hydrocarbon resources
ADNOC Drilling is the owner of one of the world’s largest operational jack-up drilling fleets, with 142 owned rigs with the addition of the two jack-ups.
At the end of the third quarter 2024, the company’s entire fleet consisted of 140 owned rigs, including four lease-to-own land rigs.
During 2024, ADNOC Drilling has operationalized 21 rigs, including reactivations.
In its offshore jack-up segment, the company’s revenues for the third quarter 2024 grew 46% year-on-year to $290 million, due to higher activity from jack-ups compared to 2023, as the offshore operations expanded.