The acquisition is expected to close in the first half of 2023
The company aims to operate a total fleet of at least 122 owned rigs by 2024
Over 80 per cent of the contract value will flow back into the country’s economy under ADNOC’s In-Country Value programme
The two new rigs will join the ADNOC Drilling fleet and commence operations by the end of the year
The project is expected to reduce the carbon footprint of ADNOC’s offshore operations by more than 30 per cent
The company has bought a total of four premium offshore jack-up rigs this year
The real timesaver would be installing turbines more quickly
According to PIF, it is the world’s ‘first tourism destination on offshore platforms’
In a first, Pakistani companies will invest in and explore for oil and gas in an Abu Dhabi concession
The development will enable the Belbazem Offshore Block to achieve a crude oil production capacity of 45,000 bpd, and is expected to be operational by 2023