Abu Dhabi – Mubasher: ADNOC Drilling Company has penned a five-year agreement with ADNOC Onshore for drilling, workover, and other well services, according to a bourse disclosure on Thursday.
The contract value stands at $3.8 billion to benefit both parties by driving efficiency in work crews while enhancing rig move time and maintenance scheduling.
CEO of ADNOC Drilling, Abdulrahman Abdullah Al Seiari, said: “Advanced technologies and digitalisation are at the heart of this agreement, as ADNOC Drilling continues to improve efficiencies, drive further growth opportunities, while minimizing our environmental footprint.”
It is worth noting that ADNOC Drilling has started trading its shares on Abu Dhabi Securities Exchange (ADX) on 3 October. The company recently announced a 9% increase in net profits to $459.996 million during the first nine months (9M) of 2021.
