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ADNOC awards US$6 billion in drilling contracts

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Oilfield Technology,


ADNOC has announced investments worth up to almost US$6 billion (AED22 billion) to enable drilling growth as it boosts its crude oil production capacity to 5 million bpd by 2030 and drives gas self-sufficiency for the United Arab Emirates (UAE).

The announcement was made at the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC) and follows the recent successful listing of ADNOC Drilling on the Abu Dhabi Securities Exchange (ADX).

The investments are in the form of procurement awards to top-tier contractors for Wellheads and related components, Downhole Completion Equipment (DCE) and related services, and Liner Hangers and Cementing Accessories – all crucial in drilling for oil and gas and completing wells.

The procurement award for wellheads and related components is worth up to US$3.27 billion (AED12 billion), making it the world’s largest in this category. Gulf Automation Services & Oilfield Supplies (GASOS), UAE agents for TechnipFMC, and Al Ghaith Oilfield Supplies & Services Company, UAE agents for Baker Hughes, secured the awards with both companies having an equal split of the scope which runs for 10 years.

The procurement award for Downhole Completion Equipment and related services is worth up to US$2.34 billion (AED8.6 billion), also making it the world’s largest in this category. Schlumberger Middle East S.A (Schlumberger) and Weatherford Bin Hamoodah Company L.L.C (Weatherford) secured the awards. Schlumberger’s scope is valued at up to US$1.41 billion (AED5.18 billion) while Weatherford’s scope is valued at up to US$931 million (AED3.42 billion). The award runs for 5 years with an option to extend for 2 years.

The procurement award for Liner Hangers and Cementing Accessories is worth up to US$337 million (AED1.24 billion) and runs for 5 years with an option to extend for 2 years.

The award for liner hangers was made to Weatherford Bin Hamoodah, UAE agents for Weatherford and Uni-Arab Engineering & Oilfield Service, UAE agents for Baker Hughes, while the award for Cementing Accessories was made to Al Ghaith Oilfield Supplies & Services Company Ltd, UAE agents for Downhole Products, Best Pick General Trading LLC, UAE agents for NeOz Energy, and Al Mansoori Specialized Engineering LLC, UAE agents for Sledgehammer.


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Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/16112021/adnoc-awards-us6-billion-in-drilling-contracts/

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