Abu Dhabi National Oil Company (ADNOC) has issued drilling framework agreement awards with a total value of $1.94 billion (AED 7.1 billion).
The company has been investing steadily in recent years in drilling-related equipment and services to support its goals of raising its crude oil production capacity to 5 MMb/d by 2030 and securing gas self-sufficiency for the UAE. The framework agreements for wireline logging and perforation services were issued to ADNOC Drilling, Schlumberger Middle East, Haliburton Worldwide Limited Abu Dhabi, and Weatherford Bin Hamoodah Company LLC.
They cover ADNOC’s offshore and onshore fields and will run for five years, extendable by up to two years. The awards should also create employment opportunities for UAE nationals.
ADNOC Drilling’s award was the largest, covering cased hole and open hole services and perforation. Baker Hughes is a minority shareholder in the integrated drilling services company.
ADNOC the oil company plans to drill thousands of new wells to grow its production capacity while remaining a low-cost, low-carbon oil producer.
Last November, the company issued almost $6 billion of procurement awards to top-tier contractors for wellheads and related components, downhole completion equipment and related services, and liner hangers and cementing accessories.
Source: Offhsore Mag
