Adnoc Drilling lands $1.53B contract for Adnoc’s offshore expansion

Abu Dhabi National Oil Company (“ADNOC”) has awarded a contract worth USD1.53 billion (AED5.62 billion) to Adnoc Drilling to support the expansion of Adnoc’s offshore operations and crude oil production capacity to five million barrels per day by 2030 and gas self-sufficiency for the UAE. 

The award supports Adnoc’s objective to responsibly increase production capacity and meet the growing global demand for reliable, lower carbon-intensity oil and gas. 

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. 

Over 80% of the award value will flow back into the UAE’s economy under Adnoc’s In-Country Value programme, supporting local economic growth and diversification. 

Adnoc Drilling’s general counsel Alaina Ramsay (pictured) oversaw the transaction.