15-year drilling assignment enables rig duo to rake in $1.15 billion

ADNOC Drilling, based in the UAE, has secured a 15-year drilling contract worth $1.15 billion with ADNOC Offshore, a fellow oil and gas company, to operate two jack-up rigs in the Middle East. This is the third significant contract the rig owner has landed in just over a month, totaling $3.6 billion in awards and extending its revenue prospects for the long term.

The new contract, set to commence by the end of the second quarter of 2025, will allow ADNOC Drilling to enhance ADNOC Offshore’s operations. By incorporating AI, automation, and digitalization capabilities, the two advanced jack-up rigs will ensure efficiency and performance, according to Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling.

With operations secured until at least 2040, ADNOC Drilling aims to play a key role in achieving ADNOC’s production capacity goals and driving sustainable growth. The company, which boasts 47 offshore rigs, is well-positioned to support the UAE’s energy strategy by rapidly deploying rigs to meet increasing demand.

ADNOC Offshore’s CEO, Tayba Abdel Rahim Al Hashemi, highlighted the importance of ADNOC Drilling’s advanced fleet and technologies in accelerating production capacity growth plans. The partnership between the two entities is expected to contribute to meeting global energy demands and maximizing shareholder value in the long term.