ADNOC has let five 10-year contracts to ADNOC Drilling Co. PJSC across five fields in ADNOC’s offshore portfolio in the Arabian Gulf. The contract is worth $2 billion.
The contracts are for the charter of five high specification, premium jack-up rigs (Salamah1, Al Saadiyat, Al Sila, Ramhan, and Yas) along with all required manpower and equipment. The rigs will start activity from end-2023, with significant revenue expected in 2024 and first full-year revenue contribution from 2025, the provider said.
Each of the five rigs will be equipped with a battery energy storage system to increase efficiency and reduce emissions. The hybrid power technology system stores energy in its batteries to use when there is a need for continuous power or to provide instant extra power when there is an increase in demand.
The new rigs are central to ADNOC Drilling’s rigorous decarbonization strategy and the company’s commitment to support ADNOC’s target to reduce greenhouse gas intensity by 25% by 2030, as well as the UAE Net Zero by 2050 strategic initiative.
Alex Procyk | Upstream Editor
Alex Procyk is Upstream Editor at Oil & Gas Journal. He has also served as a principal technical professional at Halliburton and as a completion engineer at ConocoPhillips. He holds a BS in chemistry (1987) from Kent State University and a PhD in chemistry (1992) from Carnegie Mellon University. He is a member of the Society of Petroleum Engineers (SPE).
