ADNOC Drilling announced that ADNOC Offshore has awarded it a 15-year contract worth AED 4.22 billion to operate two offshore drilling rigs in support of offshore field development operations.
This contract builds on existing agreements aimed at generating long-term revenue and delivering attractive returns.
Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling, stated that the awarding of the contract reflects strong confidence in the company’s technical capabilities, operational efficiency, and ability to create long-term sustainable value. He affirmed that the company will deliver exceptional service to ADNOC Offshore by integrating artificial intelligence, automation, digitalization, and high performance from its most advanced rigs.
He added that the contract ensures operational continuity through at least 2040 while securing strong, resilient, and predictable revenues. It also strengthens ADNOC Drilling’s role in supporting ADNOC’s production expansion efforts and long-term sustainable growth for its shareholders.
ADNOC Drilling currently operates one of the largest offshore rig fleets in the world, with 47 offshore rigs. This capacity enables the company to support the UAE’s long-term energy strategy and enhances its reliability and agility by rapidly deploying rigs to meet growing energy demand efficiently while maintaining the highest safety standards.
Dr. Tayba Abdulrahim Al Hashemi, CEO of ADNOC Offshore, noted that ADNOC Drilling was awarded long-term contracts totaling approximately AED 13.22 billion over the past month. These contracts aim to accelerate ADNOC’s capacity expansion plans safely. She highlighted that ADNOC Drilling’s advanced fleet, market-leading integrated drilling services, and cutting-edge technology are key enablers of ADNOC’s ambitious strategy.
Al Hashemi emphasized that this partnership will further ADNOC Offshore’s efforts to sustainably meet rising global energy demand and maximize long-term value for its shareholders.
The two new rigs represent the latest generation of offshore drilling rigs and were prepared for operation by experts at the Lamprell shipyard in Sharjah, in line with ADNOC Drilling’s commitment to delivering high-quality solutions, supporting national content, and contributing to the UAE’s economic development by fostering local partnerships and innovation.
The rigs will employ advanced digital technologies, real-time data analytics, and artificial intelligence; demonstrating ADNOC Drilling’s dedication to expanding the deployment of cutting-edge technologies across its fleet to enhance safety, boost efficiency, increase asset value, and maximize uptime.
These long-term contracts reflect the resilience and strategic clarity of ADNOC Drilling’s business model, which enables stable and growing returns, as well as revenue and profit growth, consistently delivering sustainable and increasing returns to shareholders.
The rigs are expected to begin operations by the end of Q2 2025, with their contribution to the company’s revenue anticipated in the second half of 2025. Furthermore, the awarding of this contract reduces risk and reaffirms ADNOC Drilling’s 2025 and mid-term outlook.