ADNOC Drilling secures $1.63 billion deal from group entity

Dubai: ADNOC Drilling has won a $1.63 billion, 5-year deal from another ADNOC Group entity, adding to what has become a busy portfolio of projects in recent years.

The deal will see it provide integrate drilling services to ADNOC Offshore over the period.

The contract covers the 'provision of directional drilling, drilling fluids, cementing, wireline logging and tubular running services'.

The award also 'incorporates advanced engineering and technical support for the effective delivery of extended reach and maximum reservoir wells offshore', said a statement.

“This 5-year award is a strong reflection of ADNOC Drilling’s long-term contracting model, which provides revenue visibility and stability over the contract period," said Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling.

The contract thus supports the company's expanding oilfield services business. The potential economic impact is 'already included in the current 2025 and 2026 guidance'.