Abu Dhabi’s ADNOC Drilling Company PJSC has secured a $1.15bn, 15-year contract for two jack-up rigs by ADNOC Offshore in support of its growing offshore operations.
The contract will follow existing agreements, bringing “accretive rates that generate long-term revenue and attractive returns,” United Arab Emirates-based drilling player said in a statement on Tuesday.
“The rigs are expected to commence operations around the end of 2Q 2025, delivering revenue in the second half of 2025 onwards,” ADNOC Drilling said.
This is the third major contract in just over a month bringing the total awards to $3.6bn.
ADNOC Drilling has 47 offshore rigs, one of the largest operational offshore fleets in the world.
In accordance with the company, the new rigs represent the “latest generation of jack-up rigs” and have been prepared for operations at the Lamprell shipyard in Sharjah.
“By integrating artificial intelligence (AI), automation and digitalization capabilities, the two new jack-up rigs, our newest and most advanced jack-up rigs, will ensure superior efficiency and performance for our client ADNOC Offshore,” noted Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO.
