ADNOC awarded double Jack-up contract worth $980m

Abu Dhabi National Oil Company awarded a contract worth $980 million to ADNOC Drilling to hire two jack-up offshore rigs, the company said on Thursday.

The award will support the expansion of ADNOC's production capacity as it responds to the growing global demand for lower carbon-intensity oil and gas, the company added.

ADNOC's offshore operations are supporting the company's goal to increase production capacity to five million barrels per day (mbpd) by 2030 and enable gas self-sufficiency for the United Arab Emirates, ADNOC said.

ADNOC Drilling is critical to delivering on ADNOC's strategic objectives, the statement added. Including the contract announced on Thursday, ADNOC Drilling's awards from ADNOC Offshore in 2022 stand at $5.95 billion.

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