ADNOC Drilling, a subsidiary of Abu Dhabi’s state-owned ADNOC, has signed an agreement to acquire three additional high-specification offshore jack-up drilling rigs. The cost of the acquisition is part of the company’s “accelerated fleet expansion and enterprising growth strategy,” the company announced today.
Earlier sale and purchase agreements were signed on 30 May (for two rigs), 10 June (one rig) and 24 August (one rig). The latest three rigs have a combined cost of $320 million and are premium high-specification jack-up rigs.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, commented: “The latest acquisition of these premium rigs will be central to our success, and cement our position as one of the world’s largest jack-up rig fleet owners, as we strive to significantly boost revenues and shareholder returns over the coming years.”
Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has rapidly expanded its fleet from 95 to 108 owned rigs, as of 30 September 2022. With the addition of the latest three high-specification rigs the company will operate one of the largest offshore jack-up fleets in the world, with 30 rigs, and plans further growth in the short term.
