ADNOC Drilling acquires 3 offshore rigs for 1.17 billion dirhams

ADNOC Drilling acquires 3 offshore rigs for 1.17 billion dirhams
ADNOC Drilling acquires 3 offshore rigs for 1.17 billion dirhams

ADNOC Drilling announced on Monday the signing of an agreement to acquire 3 new drilling rigs at a value of 1.17 billion dirhams ($320 million).

The latest step follows the signing of a number of agreements for the sale and purchase of new drilling rigs, including an agreement to acquire two rigs signed on May 30, an agreement to acquire one rig signed on June 10, and an agreement to acquire another rig on August 24.

The company, listed on the Abu Dhabi Stock Exchange, said that the recent acquisition raises the number of self-elevating rigs it owns to 30, and the company plans to achieve further growth and development in the short term.

The company’s net profit in the third quarter increased by 6% to 694 million dirhams (189 million US dollars), supported by the activity of onshore drilling operations as part of the efforts of “ADNOC” to increase its production capacity of oil and gas, as the company achieved an increase in revenues amounting to 17% to reach 2.46 billion dirhams.

The Abu Dhabi National Oil Company, ADNOC, awarded a contract worth 5.62 billion dirhams to ADNOC Drilling to support the expansion of offshore operations.

The value of the agreements concluded by ADNOC Offshore, a subsidiary of the Abu Dhabi National Oil Company, with ADNOC Drilling, amounted to 21.84 billion dirhams during 2022.

The article is in Arabic

Tags: ADNOC Drilling acquires offshore rigs billion dirhams

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