Abu Dhabhi-based ADNOC Drilling has announced the purchase of another premium offshore jack-up drilling unit for $70 million, bringing its total to 28, one of the largest operating fleets in the world.
Although the company did not reveal who it had bought the rig from, it expects all four of the jack-ups bought this year to be in service before 2023.
On May 30, ADNOC Drilling acquired two premium offshore jack-up drilling units. The investment, according to the company, is central to its expansion strategy and forms part of its three-year guidance on capital expenditure.
“The acquisition of this additional premium drilling unit is central to our bold growth strategy and the rig will support us in delivering on our commitments to shareholders,” Abdulrahman Al Seiari, CEO of ADNOC Drilling, said in a statement.
Earlier this month, ADNOC Drilling reported a significant increase in its first half net profit, which grew by 34% to $379 million while revenues jumped 13% to $1.27 billion compared to the same period last year.