UAE - Mubasher: The Abu Dhabi National Oil Company (ADNOC) has recorded cost savings worth AED 7.36 billion ($2 billion) over the past five years by improving drilling efficiencies through advanced technologies and digitalisation.
The cost savings are driven by ADNOC’s Real Time Data Monitoring Centre (RTMC), which tracks the drilling performance in up to 120 well sites, according to a press release on Thursday.
By the end of 2019, the RTMC has helped the company to cut well duration by 30%, leading to cost savings of AED 3.68 billion ($1 billion).
The CEO of ADNOC Drilling, Abdulrahman Abdullah Al Seiari, said: "As part of this effort, we strengthened our rig fleet and expanded our service offering as well as accelerated our adoption of technology which is enabling us to drill more wells in less time."
Al Seiari added: "This is supporting ADNOC to unlock greater value from its conventional and unconventional hydrocarbon resources as we reinforce our competitiveness in any market scenario."
