The Abu Dhabi National Oil Company (ADNOC) has given its subsidiary, ADNOC Drilling Co., a $1.53 billion contract for the supply of rigs.
ADNOC Offshore awarded the two-year contract, which covers the provision of 12 jack-up rigs and two island rigs and the associated Integrated Drilling Services (IDS), the state oil company said in a statement on Monday.
The award will support the expansion of ADNOC’s crude oil production capacity to five million barrels per day (mmbpd) by 2030 and gas self-sufficiency for the UAE, the statement added.
Under ADNOC’s In-Country Value (ICV) programme, more than 80% of the award value will be reinvested in the UAE’s economy, fostering regional economic expansion and diversification.
