Abu Dhabi – Mubasher: ADNOC Drilling Company has signed an agreement to acquire three new offshore jack-up drilling units at a combined cost of $320 million.
The acquisition aligns with the company’s growth strategy and the three-year guidance on capital expenditure, according to a recent press release.
In line with its fleet expansion objectives, ADNOC Drilling aims to foster its financial and operating performance and benefit its clients, shareholders, and the UAE.
This transaction follows two premium offshore jack-up drilling units secured last September at a value of $140 million, as well as another two offshore drilling units on 30 May 2022. This is in addition to two further agreements signed on 10 June and 24 August, respectively.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, commented: “The latest acquisition of these premium rigs will be central to our success, and cement our position as one of the world’s largest jack-up rig fleet owners, as we strive to significantly boost revenues and shareholder returns over the coming years.”
Last October, the UAE-based firm was awarded a $980 million contract from Abu Dhabi National Oil Company (ADNOC) to hire two jack-up offshore rigs for their project.
In the first nine months (9M) of 2022, ADNOC Drilling reported net profits worth $568.10 million, an annual surge of 24% from $459.99 million.
