ADNOC Drilling announced the arrival of two new jack-up rigs in the UAE, with operations set to begin by the first quarter of next year.
This addition expands the fleet to 142 rigs, positioning ADNOC Drilling as one of the largest rig fleet operators globally. The new rigs mark the culmination of an exceptional year for the company.
JP Morgan noted in an analyst report, “Since its IPO, ADNOC Drilling has operated as a high-quality, defensive business, consistently surpassing guidance and expectations. Its impressive performance also highlights progress made through its two joint ventures.”
In 2023, Enersol acquired four oilfield services technology firms, while Turnwell achieved a record-breaking initial well delivery time, supporting the rapid development of the UAE’s unconventional energy reserves.
ADNOC Drilling plans to achieve even more in 2025, as it has already raised its third-quarter guidance for the second time this year.
The company aims to conclude its strongest quarter to date in Q4, expecting mid-single-digit sequential growth as it scales up its operations.
