Drilling & Completion

ADNOC Drilling inks $412M integrated drilling services contract

April 15, 2023

ADNOC Drilling will provide integrated drilling services for the development of the Upper Zakum Field, the largest producing field in ADNOC’s offshore portfolio.

Related To: ADNOC

The Upper Zakum Oil Field is the largest producing field in ADNOC’s portfolio. It is also the second-largest offshore oil field and the fourth-largest oil field in the world.

Offshore staff

ABU DHABI, UAE — ADNOC Drilling Co. PJSC has secured an award of a five-year contract for the provision of integrated drilling services (IDS) totaling $412 million from ADNOC Offshore commencing in second-quarter 2023.

ADNOC Drilling will provide IDS for the development of the Upper Zakum Field, the largest producing field in ADNOC’s offshore portfolio. The application of the services provided by ADNOC Drilling will add to the efficiency of production at the project, deliver significant cost savings and contribute to ADNOC’s plans to responsibly accelerate production capacity growth as global demand for energy continues to increase, according to the company.

In 2022 ADNOC Drilling had 40 operational IDS rigs, with oilfield services revenue reaching $405 million, an increase of 23% on the previous year. The company has guided the market to expect the segment to generate $500 million and $550 million in revenue in 2023. Previous IDS contract awards in 2022 include a $1.3 billion award for the Ghasha megaproject, $1.6 billion award for integrated drilling fluid services and a $777 million award for wireline and perforation services.

04.14.2023