ADNOC Drilling Firm PJSC stated it has obtained a letter of award for a $1.63 billion, five-year contract for built-in drilling providers (IDS) from ADNOC Offshore.
The contract covers the availability of directional drilling, drilling fluids, cementing, wireline logging and tubular working providers. The award incorporates superior engineering and technical assist for the efficient supply of prolonged attain and most reservoir wells offshore, the corporate stated in a information launch.
The award “reinforces ADNOC Drilling’s distinctive place inside ADNOC Group and because the area’s main supplier of superior, built-in power providers, and displays the energy of its technique to broaden its fleet, service choices and capabilities,” the corporate stated.
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The corporate added that the contract helps the rising Oilfield Providers section, with the financial impression included within the present 2025 and 2026 steerage, “underpinning the visibility of ADNOC Drilling’s enterprise mannequin and supporting the corporate’s monetary targets”.
ADNOC Drilling CEO Abdulrahman Al Seiari, stated, “We’re immensely proud to safe this appreciable award, which not solely validates our strategic route but additionally demonstrates the arrogance ADNOC Offshore locations in our capabilities. Our IDS providing delivers superior worth and innovation, enabling us to play a pivotal position in reshaping the way forward for power providers within the area. This milestone underscores our dedication to operational excellence, and positions ADNOC Drilling because the accomplice of alternative in an more and more dynamic and complicated power panorama”.
“This five-year award is a powerful reflection of ADNOC Drilling’s long-term contracting mannequin, which supplies income visibility and stability over the contract interval. It aligns with our disciplined method to constructing a resilient enterprise basis, able to producing constant money move and supporting sustainable shareholder returns via the cycle,” he added
ADNOC Offshore CEO Tayba Al Hashemi, stated, “ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world’s rising power wants. This contract offers us entry to their cutting-edge capabilities and market-leading end-to-end providers, which is able to maximize effectivity and generate vital worth for our shareholders and the UAE [United Arab Emirates]”.
ADNOC Drilling describes itself as “main the transformation of the power providers sector by adopting AI, integrating superior applied sciences with deep trade information and experience with a relentless concentrate on operational effectivity”.
In 2025, ADNOC Drilling stated it’s set to reinforce its operational capability, projecting a rig rely of over 148 by 2026 and greater than 151 by 2028. The introduction of superior rigs with AI-enabled applied sciences will improve effectivity and bolster its oilfield providers (OFS) section, delivering better worth to prospects, the corporate stated in its most up-to-date earnings launch.
Having prolonged its contract in Jordan and gained prequalification in Kuwait and Oman, ADNOC Drilling stated it plans for additional regional enlargement for the 12 months.
For 2024, the corporate’s full-year income elevated to $4.03 billion, rising by 32 p.c year-on-year and its full-year EBITDA reached a excessive of $2.01 billion, up 36 p.c year-on-year. Because the firm’s itemizing on the ADX in 2021, its web revenue for the total 12 months has greater than doubled, culminating in $1.30 billion in 2024, in keeping with the discharge.
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