ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company, introduced a significant rig fleet enlargement program to help ADNOC’s upstream development plans and allow the supply of its 2030 Smart Growth Strategy.
In the primary section of the broader enlargement program, ADNOC acquired, in November 2019, 4 technologically superior and UAE-built land rigs with a complete worth of over AED 350 million ($100 million). Following the mixing of the 4 rigs, which is able to be a part of the fleet within the first quarter of 2020, ADNOC Drilling plans to accumulate dozens of further land, offshore, and island rigs by 2025.
The 4 new rigs acquired in November 2019 have been manufactured within the UAE by National Oilwell Varco (NOV) and shall be deployed in ADNOC’s onshore fields, which presently contribute greater than 50 % of ADNOC’s day by day Murban oil manufacturing capability. Acquiring UAE-built rigs, underpins ADNOC’s In-Country Value technique, aimed on the development and diversification of the UAE’s financial system. The rig additions take the worth of UAE-built rigs in ADNOC Drilling to greater than AED 7 billion ($1.9 billion).
Abdalla Saeed Al Suwaidi, CEO of ADNOC Drilling, mentioned: “Our rig fleet has expanded greater than three-fold in lower than a decade, from 29 rigs in 2010 to our present 95 rigs. The subsequent section of enlargement will additional strengthen ADNOC Drilling’s capabilities and reinforce our key function of supporting the ADNOC Group in capturing extra worth from each barrel of oil it produces. In addition, the possession of recent, various, and technologically superior rigs enhances our operational effectivity as we amplify our drilling actions according to ADNOC’s 2030 good development technique and a extra worthwhile upstream.”
Following the award to Baker Hughes of a 5 % share in ADNOC Drilling in 2018, ADNOC Drilling remodeled into a totally Integrated Drilling Services (IDS) enterprise that’s able to delivering start-to-finish drilling and well-construction.
The firm’s service providing encompasses the complete drilling worth chain by integrating a variety of oilfield providers, capturing extra worth from ADNOC’s upstream development and the substantial improve within the variety of wells required in consequence. The software of IDS has enhanced drilling efficiency by as much as 25 %, leading to appreciable price financial savings and elevated nicely profitability.
(Source and picture: ADNOC – Alghallan jackup)

The submit ADNOC DRILLING LAUNCHES MAJOR FLEET EXPANSION appeared first on Energy Global News.

Read more at Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here