ADNOC Drilling Company has secured a $1.15 billion contract from ADNOC Offshore for the deployment of two state-of-the-art jack-up rigs, marking a significant addition to its offshore operations portfolio. The 15-year agreement extends operational coverage through 2040, supporting ADNOC’s long-term production goals while ensuring steady revenue streams and investment returns.
The two rigs, equipped with advanced artificial intelligence, automation, and digitalisation technologies, are designed to enhance operational efficiency and performance. According to ADNOC Drilling’s Chief Executive Officer, Abdulrahman Abdulla Al Seiari, the contract underscores confidence in the company’s technical capabilities and its strategic role in ADNOC’s broader production roadmap.
He noted that the deal supports ADNOC Drilling’s commitment to long-term value creation and sustainable growth. ADNOC Drilling currently operates 47 offshore rigs, positioning it among the largest offshore fleets globally. The extensive fleet enables the company to swiftly respond to increased demand while maintaining safety and operational standards. The new rigs are expected to enter service by the end of the second quarter of 2025, contributing to company revenues in the latter half of the year.
ADNOC Offshore’s Chief Executive Officer, Tayba Abdul Rahim Al Hashemi, highlighted that the recent series of contracts totaling approximately $3.6 billion are key to accelerating production capacity. She emphasized the strategic importance of ADNOC Drilling’s advanced capabilities and integrated services in delivering ADNOC’s growth objectives while aligning with global energy demands.
The rigs, constructed and equipped at the Lamprell shipyard in Sharjah, are part of ADNOC Drilling’s efforts to bolster in-country value. The initiative supports the UAE’s economic development by promoting local industry partnerships and fostering domestic innovation. The deployment reflects ADNOC’s emphasis on high-quality, locally enabled solutions. As ADNOC Drilling integrates advanced analytics and real-time monitoring across its fleet, the new jack-up rigs are expected to set new benchmarks in efficiency and asset performance.
These technologies also aim to enhance operational safety and reduce non-productive time. The contract aligns with ADNOC Drilling’s strategic focus on stable, long-term engagements that provide predictable income and support shareholder returns. It also strengthens the company’s outlook for 2025 and supports its medium-term financial guidance, reinforcing ADNOC Drilling’s position as a critical enabler in the UAE’s energy sector. – By MENA Newswire News Desk.