rigs

ADNOC Drilling strikes massive $220 million deal for offshore jack-up rigs

by Staff WriterJune 6, 2023June 6, 2023

ADNOC Drilling Company has sealed a lucrative deal worth a staggering $220 million to acquire two top-tier offshore jack-up rigs. According to a press statement, the rigs are expected to be delivered to Abu Dhabi waters and commence operations in the fourth quarter (Q4) of 2023. The revenue generated from the new rigs will be […]

News

ADNOC Drilling signs $252 million contract for hybrid power land rigs

by Staff WriterMarch 3, 2023March 3, 2023

ADNOC Drilling Co has signed an agreement to purchase ten newbuild hybrid power land drilling rigs for a total of $252 million, the company said on March 2. The use of hybrid power solutions is an essential element of ADNOC Drilling’s “rigorous decarbonisation strategy,” the company noted. The rigs use a high capacity battery and […]

News

ADNOC Drilling reports record profits, $10 billion contracts in 2022

by Staff WriterFebruary 13, 2023February 13, 2023

ADNOC Drilling Co today reported record breaking net profits totaling $802 million, up 33% year-on-year. Additionally, the company secured over $10 billion of contract backlog during the period, ADNOC Drilling’s CEO Abdulrahman Abdulla Al Seiari noted. The company also achieved record revenue during the fourth quarter of 2022, while its fleet expansion program delivered the […]

Exploration & Production

ADNOC Drilling acquires two more offshore rigs for $140 million

by Faiza RizviSeptember 26, 2022September 26, 2022

ADNOC Drilling Co announced today that it has signed an agreement to acquire an additional two premium offshore jack-up drilling rigs. The acquisition is the fourth of its kind in recent months. In August, ADNOC Drilling purchased a premium offshore jack-up drilling unit for $70 million. The two new rigs have a combined cost of […]