Page 10 - MEOG Week 03 2022
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MEOG PROJECTS & COMPANIES MEOG
ADNOC Drilling adds more rigs
UAE ABU Dhabi National Oil Co. (ADNOC) years, it anticipates the addition of 23 rigs.
announced this week that its drilling arm had ADNOC Drilling’s expansion will play a key
added two more rigs to its fleet, taking the total role in the parent’s push to raise the Emirate’s
number to 99, with the new units to work at two oil production capacity from 4mn bpd to 5mn
of the UAE’s most important oil assets. bpd by 2030, with ADNOC Offshore working to
A statement released to press said: “ADNOC increase its contribution to the national total to
Drilling is introducing two more offshore 2mn bpd.
jack-up rigs, bringing its rig fleet to 99 – already In November, ADNOC said it would support
the largest in the region.” the upstream drive with the investment of up to
The rigs will be mobilised to the Lower $6bn in drilling equipment, making procure-
Zakum and Umm Shaif oilfields. ment awards to contractors for well completion
The latter was the subject of a $946mn engi- equipment, with local subsidiaries and agents of
neering, procurement and construction (EPC) Baker Hughes, Schlumberger, TechnipFMC and
contract awarded to the local National Petro- Weatherford among the winners.
leum Construction Co. (NPCC) that aims to ADNOC will spend up to $3.27bn on the
maintain oil flows at the current level of 275,000 procurement of wellheads and related compo-
barrels per day (bpd). nents, with Gulf Automation Services & Oilfield
“With this, ADNOC Drilling cements its Supplies (GASOS) and Al Ghaith Oilfield Sup-
position as the region’s largest national drill- plies & Services Co., the Emirati agents for Tech-
ing company, boosting its ability to deliver on nipFMC and Baker Hughes respectively, taking a
ADNOC’s production capacity growth and 50:50 split of the 10-year contract award.
driving its ambition to expand beyond the UAE’s A further $2.34bn has been earmarked for
borders,” the company said. downhole completion equipment (DCE) with
ADNOC Drilling was listed on the Abu five-year contracts to Schlumberger Middle
Dhabi Securities Exchange (ADX) in September, East and Weatherford Bin Hamoodah valued at
with ADNOC raising $1.1bn for an 11% share in up to $1.41bn and $931mn each, with options to
the company. The listing was more than 30 times extend for a further two years.
oversubscribed and left ADNOC with a stake of $337mn worth of similar five-plus-two-year
84%, with Baker Hughes holding 5%. contracts were awarded to Weatherford Bin
At the time of the IPO, ADNOC Drilling’s Hamoodah and Baker Hughes agent Uni-Arab
fleet comprised 107 rigs, 96 of which are owned, Engineering & Oilfield Service for liner hangers
and 11 rigs rented. These comprise 75 onshore and cementing accessories, and to local agents of
rigs, 21 offshore jack-up rigs, 11 island rigs and Downhole Products, NeOz Energy and Sledge-
a self-propelled barge. Over the next five to 10 hammer for cementing accessories.
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