ADNOC Drilling, a subsidiary of Abu Dhabi National Oil Company (ADNOC), today announced the launch of a comprehensive program to expand its fleet of rigs to support ADNOC's exploration, development and production plans and accelerate the implementation of its integrated 2030 smart growth strategy.
The excavation fleet expansion program was announced during the 15th edition of the Drilling Companies' Forum, hosted by ADNOC Drilling, in cooperation with DNV-GL on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC 2019).
During the first phase of the program, ADNOC acquired four state-of-the-art land rigs manufactured in the UAE worth more than AED 350 million in November, underlining its commitment to value enhancement and supporting its contribution to economic development and diversification in the UAE. ADNOC plans to acquire dozens of state-of-the-art drilling rigs for offshore, offshore and man-made oil islands over the next five years, following the launch of the four in the first quarter of 2020.
“The expansion of ADNOC's drilling fleet contributes to the efficiency of the completion and completion of wells and reduces the time required for drilling,” said Abdul Moneim Saif Al Kindi, Chief Executive Officer of ADNOC Exploration, Development and Production. (ADNOC) to maximize the value of Abu Dhabi's rich hydrocarbon resources. The program is a key enabler for the implementation of ADNOC's plans and initiatives to expand drilling activities for conventional and unconventional oil and gas wells, increase oil and gas production capacity and achieve gas self-sufficiency. ”
ADNOC Drilling fleet expands ADNOC Drilling's position as the largest drilling company in the Middle East and the region to provide integrated drilling services in the field of drilling and well development, and confirms its role in supporting ADNOC's march of growth and development, which aims to increase the production capacity of oil to five Million barrels a day by 2030.
The four new rigs are manufactured in the UAE by National Oil and Farco and will be operated in the onshore ADNOC oilfields, which currently contribute more than 50% of ADNOC's total daily production capacity from Murban oil.
Abdulla Saeed Al Suwaidi, CEO of ADNOC Drilling Company, said: “ADNOC Drilling has more than tripled its fleet of rigs in less than 10 years. "The next phase will enable us to further strengthen ADNOC's efforts to gain more value from every barrel of oil it produces."
Integrated Services
Baker Hughes's acquisition of 5% stake in ADNOC Drilling in 2018 has contributed to the development of the company and its position in the field of integrated services to drill and prepare oil and gas wells. The company provides a full range of services through its various operations in the field of drilling and preparation of oil and gas wells, in addition to a wide range of oilfield services.