Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    African leaders commit to ending AIDS among children by 2030

    February 2, 2023

    Etihad Airways increases its frequency to Frankfurt

    February 2, 2023

    Lebanon devalues its currency by 90 percent, market rate is much lower

    February 1, 2023
    Facebook Twitter Instagram
    • Home
    • Contact Us
    Addis Ababa WeeklyAddis Ababa Weekly
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Addis Ababa WeeklyAddis Ababa Weekly
    Home » ADNOC Drilling awarded $3.8 billion drilling contract
    Business

    ADNOC Drilling awarded $3.8 billion drilling contract

    December 9, 2021
    Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email
    ADNOC Drilling Company PJSC announced that it has signed a five-year Drilling Services Agreement with ADNOC Onshore for the continued provision of drilling, work-over and other well services. The contract will run for up to 5 years, for a total value of US$3.8 billion.
    ADNOC Drilling awarded $3.8 billion drilling contract

    Structured to drive efficiency in work crews, rig move time and maintenance scheduling, the contract benefits both ADNOC Drilling and ADNOC Onshore. It underpins ADNOC Drilling’s unique position as sole drilling services provider to ADNOC and will advance ADNOC Drilling’s ambitious growth and expansion plans.

    Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, said, “ADNOC Onshore is a valued and long-standing customer and this contract award further extends a 50-year profitable and unique partnership. I am delighted, that working together, we will continue to drive value for ADNOC and the UAE, delivering on the 2030 strategic production capacity and gas self-sufficiency targets. Advanced technologies and digitalisation are at the heart of this agreement, as ADNOC Drilling continues to improve efficiencies, drive further growth opportunities, while minimising our environmental footprint.”
    Following its record ADX listing on 3rd October 2021, ADNOC Drilling released its first earnings on 10th November 2021, showing strong and resilient growth for the third quarter and first nine months of the year. The Company’s growth journey includes geographical expansion and further development of ADNOC Drilling’s Oilfield Services offering. ADNOC Drilling is the only provider of fully Integrated Drilling Services (IDS) in the region and since 2018, the Company has delivered more than $250 million of savings to its customers through the delivery of these wells.
    Share. Facebook Twitter Pinterest LinkedIn Tumblr WhatsApp Email

    Related Posts

    Lebanon devalues its currency by 90 percent, market rate is much lower

    February 1, 2023

    Outstanding operational performance by Etihad Cargo in 2022

    February 1, 2023

    Indian FM presents $550 billion progressive and inclusive Union Budget

    February 1, 2023

    Vietnam-India bilateral trade reached record levels in 2022

    February 1, 2023

    Philips cuts 13 percent of jobs in a safety and profitability drive

    January 30, 2023

    German-Australian hydrogen supply chain investment of $90 million

    January 28, 2023
    Latest News

    African leaders commit to ending AIDS among children by 2030

    February 2, 2023

    Etihad Airways increases its frequency to Frankfurt

    February 2, 2023

    Lebanon devalues its currency by 90 percent, market rate is much lower

    February 1, 2023

    Outstanding operational performance by Etihad Cargo in 2022

    February 1, 2023

    Indian FM presents $550 billion progressive and inclusive Union Budget

    February 1, 2023

    Vietnam-India bilateral trade reached record levels in 2022

    February 1, 2023

    Djokovic tops ATP rankings, Sabalenka No. 2

    January 31, 2023

    Pakistan mosque suicide bombing death toll rises to 88

    January 31, 2023
    © 2021 Addis Ababa Weekly | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.