ADNOC Drilling confirmed the award of a five-year contract for the provision of Integrated Drilling Services (IDS), totalling US$412mn from ADNOC Offshore commencing in the second quarter of 2023
The company will provide IDS for the development of the Upper Zakum field, the largest producing field in ADNOC’s offshore portfolio. The application of the services provided by ADNOC Drilling will add to the efficiency of production at the project, deliver significant cost savings, and contribute to ADNOC’s plans to responsibly accelerate production capacity growth as global demand for energy continues to increase.
Abdulrahman Abdullah Al Seiari, chief executive officer of ADNOC Drilling, commented, “We are very pleased to have been awarded this important contract, which will contribute to the effective development of the Upper Zakum field and enable ADNOC to realise accelerated production capacity targets to responsibly supply energy to a world which sees continuously rising demand.
“This contract award further demonstrates the delivery of our strategic objective to expand our Oilfield Services (OFS) business as we continue to work towards our goal of further doubling OFS revenues by 2025. This contract alone will add some 20% to our annual revenue compared with 2022. Our comprehensive market-leading drilling and completion services offering improves operational performance and efficiency, delivering considerable cost savings and reductions in well delivery times for our customers.”
Previous IDS contract awards in 2022 include a US$1.3bn award for the Ghasha Mega-project, US$1.6bn award for integrated drilling fluid services, and a US$777mn award for wireline and perforation services.