ADNOC Drilling to add 3 more offshore jack-up drilling units for $320m

Dubai: ADNOC Drilling will be adding three new high-spec offshore jack-up drilling units for $320 million, part of a plan to support the parent company’s target to ‘raise and sustain production capacity’.

The new deal comes under ADNOC Drilling’s 3-year guidance on capex and ‘underpins the accelerated fleet expansion and enterprising growth strategy’. Previous sale and purchase agreements were signed for two rigs in May and one apiece in June and August.

“We continue to execute our bold growth strategy as a key enabler of ADNOC’s ambitious production capacity targets,” said Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling. “The latest acquisition will cement our position as one of the world’s largest jack-up rig fleet owners, as we strive to significantly boost revenues.”

ADNOC Drilling’s fleet size has risen to 108 owned rigs, as of September 30.