ADNOC awards five framework agreements for directional drilling, LWD services
Abu Dhabi National Oil Company (ADNOC) announced the award of five framework agreements valued at $1.83 billion for directional drilling and logging while drilling (LWD) to support its efforts to expand production capacity of its low carbon oil and gas resources to help meet the world’s growing demand for energy.
The framework agreements are the largest of such awards in the oil and gas industry and were awarded to Al Ghaith Oilfield Supplies and Services Company, Al Mansoori, Schlumberger, Halliburton and Weatherford following a competitive tender process. The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years.
“As ADNOC responds to rising global energy demand, we are responsibly ramping up drilling activities to further unlock Abu Dhabi’s oil and gas resources which have some of the lowest carbon intensity in the world. These awards build on our ongoing investments in drilling services and they will deliver substantial in-country value for the nation to support economic growth and diversification, in line with the UAE Leadership’s wise directives,” said Yaser Saeed Almazrouei, ADNOC Upstream Executive Director.
The framework agreement awards will support ADNOC’s requirement to drill thousands of new wells to expand its production capacity to five million bbl/day by 2030, enable gas self-sufficiency for the UAE and remain a leading low-cost, low-carbon oil producer. The awards will also enable hundreds of millions of dollars in cost savings.
