Abu Dhabi: ADNOC Drilling signed a sale and purchase agreement (SPA) to acquire an additional offshore jack-up drilling unit (rig) for $70 million.
The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and strategic plans to expand its existing business.
The SPA is the third signed by ADNOC Drilling in recent months, with an agreement for two premium drilling units signed on May 30, and one premium drilling unit signed on June 10.
All four premium offshore drilling units are expected to join the company’s fleet by year-end, bringing ADNOC Drilling’s total offshore jack-up fleet to 28 operational units, one of the largest operating fleets in the world.
This acquisition makes ADNOC Drilling the largest owner and operator of rigs in the Middle East.
“The acquisition of this additional premium drilling unit is central to our bold growth strategy and the rig will support us in delivering on our commitments to shareholders,” said Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling.
