NDC to buy 14 rigs for US$543mn

jackuprig-EdSchipul-flickrUAE’s National Drilling Company (NDC) will buy 14 new oil rigs for US$543mn, as part of its expansion plans

Among the 14 rigs, one offshore and one onshore rig worth US$203mn will be built in the UAE, said CEO Abdullah Saeed al-Suwaidi. The contract to build the onshore rig was signed with National Oilwell Varco while the contract to develop the offshore rig was awarded to Lamprell.

A third deal was signed with China Petroleum Technology & Development Corporation for the remaining rigs, Suwaidi added.

NDC is the largest drilling contractor in the Middle East, and among the first ventures of the Abu Dhabi National Oil Company (ADNOC). The company offers a range of services such as drilling, electric logging and wire line, and works with a number of clients such as ADCO, ADMA-OPCO, ZADCO, Al Hosn Gas, Total and Abu Dhabi Oil Co., Ltd. (Japan).

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