emirates7 - ADNOC Drilling Company has announced the signing of a 15-year contract valued at $1.15 billion with ADNOC Offshore for the provision of two jack-up rigs to support expanding offshore operations. This new agreement builds upon existing contracts and is expected to generate consistent revenue and strong financial returns over the long term.
Commenting on the development, Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, stated: “This contract reflects the strong confidence in ADNOC Drilling’s technical capabilities, operational performance, and commitment to value creation. The two rigs involved—our most advanced jack-up rigs—will feature integrated artificial intelligence, automation, and digital technologies to ensure maximum efficiency and performance for ADNOC Offshore.”
He added that the deal ensures operational continuity through 2040 and beyond, strengthening ADNOC Drilling’s role in supporting ADNOC’s production targets and creating long-term value for shareholders.
With 47 offshore rigs, ADNOC Drilling operates one of the world’s largest offshore fleets. This extensive capacity allows the company to deliver both dependable and adaptable services, meeting rising demand while upholding high standards of safety and operational excellence.
Tayba Abdul Rahim Al Hashemi, CEO of ADNOC Offshore, remarked: “Over the past month, ADNOC Offshore has awarded approximately $3.6 billion in long-term contracts to ADNOC Drilling. Their modern fleet, integrated drilling services, and advanced technologies are essential to realizing our growth strategy. This collaboration will support global energy demand while ensuring long-term shareholder value.”
The two new jack-up rigs, prepared at the Lamprell shipyard in Sharjah, reflect ADNOC Drilling’s dedication to high-quality service, In-Country Value, and the UAE’s economic development through local partnerships and innovation.
These rigs will employ cutting-edge digital solutions, including real-time analytics and AI, as part of ADNOC Drilling’s broader strategy to enhance safety, boost efficiency, and increase asset performance and uptime.
The multi-year contracts reaffirm the stability and growth prospects of ADNOC Drilling’s business model, offering predictable, recurring revenue and sustainable returns for investors. The rigs are scheduled to begin operations by the end of the second quarter of 2025, contributing to revenues in the second half of that year and supporting ADNOC Drilling’s current financial outlook and medium-term targets.
Commenting on the development, Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, stated: “This contract reflects the strong confidence in ADNOC Drilling’s technical capabilities, operational performance, and commitment to value creation. The two rigs involved—our most advanced jack-up rigs—will feature integrated artificial intelligence, automation, and digital technologies to ensure maximum efficiency and performance for ADNOC Offshore.”
He added that the deal ensures operational continuity through 2040 and beyond, strengthening ADNOC Drilling’s role in supporting ADNOC’s production targets and creating long-term value for shareholders.
With 47 offshore rigs, ADNOC Drilling operates one of the world’s largest offshore fleets. This extensive capacity allows the company to deliver both dependable and adaptable services, meeting rising demand while upholding high standards of safety and operational excellence.
Tayba Abdul Rahim Al Hashemi, CEO of ADNOC Offshore, remarked: “Over the past month, ADNOC Offshore has awarded approximately $3.6 billion in long-term contracts to ADNOC Drilling. Their modern fleet, integrated drilling services, and advanced technologies are essential to realizing our growth strategy. This collaboration will support global energy demand while ensuring long-term shareholder value.”
The two new jack-up rigs, prepared at the Lamprell shipyard in Sharjah, reflect ADNOC Drilling’s dedication to high-quality service, In-Country Value, and the UAE’s economic development through local partnerships and innovation.
These rigs will employ cutting-edge digital solutions, including real-time analytics and AI, as part of ADNOC Drilling’s broader strategy to enhance safety, boost efficiency, and increase asset performance and uptime.
The multi-year contracts reaffirm the stability and growth prospects of ADNOC Drilling’s business model, offering predictable, recurring revenue and sustainable returns for investors. The rigs are scheduled to begin operations by the end of the second quarter of 2025, contributing to revenues in the second half of that year and supporting ADNOC Drilling’s current financial outlook and medium-term targets.