emirates7 - ADNOC Drilling Company has announced the completion of its joint venture (JV) with SLB and Patterson-UTI, forming Turnwell Industries LLC OPC (Turnwell).
Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, commented, "The successful closure of the Turnwell JV with SLB and Patterson-UTI marks a major step in unlocking the UAE's world-class unconventional energy resources and reinforces the UAE’s role as a global leader in the responsible supply of energy. This partnership is already delivering results, significantly reducing well delivery times, as seen with the record-breaking first wells."
The JV establishes a strong collaboration to drive the UAE's unconventional energy initiatives. ADNOC Drilling holds a 55% majority stake, SLB, the largest oilfield services provider globally, has 30%, and Patterson-UTI, a leading US-based drilling services provider, owns the remaining 15%.
Turnwell accelerated its drilling campaign earlier this year, focusing on 144 unconventional wells, aided by the expertise and resources of ADNOC Drilling, SLB, and Patterson-UTI.
Turnwell achieved a significant milestone by delivering the fastest well time to date, drilling a well in just 19.9 days, and saw a 13% improvement in well delivery time compared to previous records. Additionally, the JV achieved a 53% reduction in delivery time across the first four wells in a pad.
By utilizing advanced technologies such as measurement while drilling, innovative drill bit designs, and next-generation rotary steerable systems, Turnwell is focused on reducing costs and drilling times. The aim is to deliver low-cost wells, with this record-setting achievement positioning the JV for future success.
Abu Dhabi’s unconventional energy resources are vast, with an estimated 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas. Meeting these energy demands will require the completion of thousands of wells beyond the initial 144.
Turnwell plans to leverage cutting-edge AI-driven smart drilling, completions engineering, and production solutions to meet the UAE's unconventional energy needs sustainably. Additionally, Turnwell benefits from its connection to ADNOC Drilling’s JV with Alpha Dhabi, Enersol, which is investing in innovative energy services technology to improve operational efficiency.
Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, commented, "The successful closure of the Turnwell JV with SLB and Patterson-UTI marks a major step in unlocking the UAE's world-class unconventional energy resources and reinforces the UAE’s role as a global leader in the responsible supply of energy. This partnership is already delivering results, significantly reducing well delivery times, as seen with the record-breaking first wells."
The JV establishes a strong collaboration to drive the UAE's unconventional energy initiatives. ADNOC Drilling holds a 55% majority stake, SLB, the largest oilfield services provider globally, has 30%, and Patterson-UTI, a leading US-based drilling services provider, owns the remaining 15%.
Turnwell accelerated its drilling campaign earlier this year, focusing on 144 unconventional wells, aided by the expertise and resources of ADNOC Drilling, SLB, and Patterson-UTI.
Turnwell achieved a significant milestone by delivering the fastest well time to date, drilling a well in just 19.9 days, and saw a 13% improvement in well delivery time compared to previous records. Additionally, the JV achieved a 53% reduction in delivery time across the first four wells in a pad.
By utilizing advanced technologies such as measurement while drilling, innovative drill bit designs, and next-generation rotary steerable systems, Turnwell is focused on reducing costs and drilling times. The aim is to deliver low-cost wells, with this record-setting achievement positioning the JV for future success.
Abu Dhabi’s unconventional energy resources are vast, with an estimated 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas. Meeting these energy demands will require the completion of thousands of wells beyond the initial 144.
Turnwell plans to leverage cutting-edge AI-driven smart drilling, completions engineering, and production solutions to meet the UAE's unconventional energy needs sustainably. Additionally, Turnwell benefits from its connection to ADNOC Drilling’s JV with Alpha Dhabi, Enersol, which is investing in innovative energy services technology to improve operational efficiency.