Adnoc Drilling CFO Sees $500 Million of Acquisitions This Year
The drilling unit of the United Arab Emirates ' biggest oil company expects to make three acquisitions in the second half of this year totaling about $500 million, as it expands in technology and hardware to bolster growth.
Two of the deals will be for businesses developing artificial intelligence applications, Adnoc Drilling Co. Chief Financial Officer Youssef Salem said in an interview. The third will be a purchase of drilling rigs as the company expands in the Middle East.
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