UAE's energy company ADNOC awards Dh2.4b in cementing services contracts
Framework agreements have been signed with Haliburton and Baker M.E
Dubai: The UAE energy major ADNOC has signed ‘framework agreements’ valued at Dh2.4 billion for cementing services to five companies, including Haliburton Worldwide Ltd. Abu Dhabi and Baker Middle East. The other three are Emirates Western Oil Well Drilling & Maintenance Co., NESR Energy Services and Emjel Oil Field Services.
These cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years. Yaser Saeed Almazrouei, ADNOC Upstream's Executive Director, said: “The awards for cementing services will support the ongoing expansion of ADNOC’s drilling activities as we grow our production capacity, strengthening our position as a reliable global supplier of some of the world’s most carbon efficient barrels.”
The latest awards take the value of ADNOC’s drilling-related framework agreements and procurement awards since November 2021 to over Dh31.2 billion. These support ADNOC’s requirement to “drill thousands of new wells as it increases its crude oil production capacity to five million barrels per day (mmbpd) by 2030 and drives gas self-sufficiency for the UAE”.
ADNOC is optimizing all of its procurement processes to "reflect market dynamics, focusing on long-term contracts with an optimized number of suppliers that provide stable and reliable delivery at highly competitive rates".