The Abu Dhabi Nationwide Oil Co. (ADNOC) has awarded framework agreements valued at US$1.94bn to develop its drilling enterprise
ADNOC’s onshore and offshore fields and can run for 5 years with an choice for an additional two years. (Picture supply: Adobe Inventory)
The framework agreements for wireline logging and perforation companies have been awarded to ADNOC Drilling, Schlumberger Center East S.A., Halliburton Worldwide Ltd Abu Dhabi and Weatherford Bin Hamoodah Firm LLC.
The corporate is pushing ahead its technique to spice up crude oil manufacturing capability to 5 million bpd by 2030 and make the UAE self-sufficient in gasoline.
ADNOC Drilling’s share of the awards is the most important and it covers companies together with cased gap and open gap, in addition to perforation, the state-owned oil firm mentioned in an announcement.
The settlement awards cowl ADNOC’s onshore and offshore fields and can run for 5 years with an choice for an additional two years.
Sultan Ahmed Al Jaber, minister of trade and superior know-how and ADNOC managing director and group CEO, mentioned the agreements will allow the enlargement of “drilling exercise required to responsibly unlock the UAE’s main low-cost and low-carbon depth oil in addition to the nation’s gasoline assets.”
He mentioned they’re anticipated to ship over 80% of in-country worth to the UAE and “align with the UAE’s ‘Ideas of the 50’ financial blueprint for sustainable progress.”
