Latest news with #AbdulrahmanAbdullaAlSeiari
Gulf Today
06-05-2025
- Business
- Gulf Today
Adnoc successfully completes $1.5b debut international sukuk issuance
Adnoc Murban Sukuk Limited (the Issuer), a special purpose vehicle specifically set up to issue Sukuk certificates, has successfully issued its inaugural offering of Shari'a compliant trust certificates (Sukuk) under its newly established International Sukuk Programme (the Programme). The Obligor for the Sukuk is Adnoc Murban RSC Ltd, a wholly owned subsidiary of Abu Dhabi National Oil Company (Adnoc) and the primary debt capital markets issuing and rated entity for Adnoc Group. The Sukuk was issued on the International Securities Market of the London Stock Exchange at a principal amount of US$1.5 billion, maturing on 6th May 2035, with an annual profit rate of 4.75 per cent to be paid semi-annually. The offering generated significant interest across key global Islamic investors, reflecting the market's belief in Adnoc's exceptional credit quality and resilient strategy across commodity price cycles. It was successfully priced on 28th April 2025, at one of the lowest-ever new issue premiums for Shari'a-compliant securities in the region, and at the region's tightest-ever corporate US dollar 10-year spread. The successful issuance, which captured a strategic opportunity to further diversify Adnoc's funding sources and broaden its investor base, is part of a disciplined funding strategy building onAdnoc Murban's inaugural Global Medium Term Note bond issuance in September 2024, and Green Financing Facility signed in June 2024. Net proceeds of the issuance will be used by Adnoc Group for general corporate purposes. Adnoc Murban is rated 'Aa2' by Moody's Investor Services, 'AA' by Standard & Poor's (S&P) and 'AA' by Fitch Ratings - aligned with ratings assigned toAdnoc's shareholder, the Government of Abu Dhabi. The Sukuk has been assigned a rating of 'Aa2' by Moody's, and 'AA' by Fitch. Standard Chartered Bank acted as sole Global Coordinator and Joint Sukuk Structuring Bank. Abu Dhabi Islamic Bank, Dubai Islamic Bank, and First Abu Dhabi Bank acted as Active Bookrunners and Joint Sukuk Structuring Banks. Emirates NBD Capital, Abu Dhabi Commercial Bank, MUFG, and Morgan Stanley acted as Active Bookrunners, whereas KFH Capital, Sharjah Islamic Bank, SMBC, and the Islamic Corporation for the Development of the Private Sector acted as Passive Bookrunners on the Sukuk offering. Meanwhile, Adnoc Drilling Company has announced it has been awarded a contract for three island rigs by Adnoc Offshore for an estimated total contract value of US$806 million to support expanding operations at the offshore Zakum development project. These three rigs are in addition to three ordered in July 2024. Abdulrahman Abdulla Al Seiari,Adnoc Drilling CEO, said, 'Adnoc Drilling is proud to be awarded this significant, long-term contract, marking another major milestone in our accelerated growth journey. These next generation island rigs, built with embedded artificial intelligence, represent a leap forward in technology, enhancing safety, efficiency and performance. This award strengthens our position as a critical enabler of Adnoc's production capacity targets, while delivering sustainable, high-quality returns for our shareholders well into 2038 and beyond.' The contract will follow existing agreements that generate long-term revenue and attractive returns. The three new island rigs will operate on Adnoc's existing and newly constructed innovative artificial islands for drilling and completion of wells. Tayba Abdul Rahim Al Hashemi, Chief Executive Officer o of Adnoc Offshore, said, 'We are focused on unlocking maximum value from the resources in Abu Dhabi's waters in the most efficient and innovative ways possible. These advanced island rigs delivered byAdnoc Drilling will play a vital role in achieving our production capacity goals and meeting global energy demand. Together, we are pushing the boundaries of technology, operational excellence and partnership to power sustainable growth.' This new generation of island rigs, expected to gradually join the fleet between 2027 and 2028, will be developed through a strategic collaboration betweenAdnoc Drilling and Honghua Group (HH). The partnership is formed specifically to embed the transformative power of AI, advanced digitalization and real-time analytics into rig design and operations. Leveraging real-time condition monitoring, performance optimsation and predictive analytics, the rigs will generate actionable insights that drive higher operational efficiency, improved well delivery times and enhanced safety. Designed to operate on Adnoc's pioneering artificial islands – home to the world's five longest wells, including a recent record-setting well at 53,000 feet – the rigs will be optimised for extended reach drilling (ERD). Additionally, state-of-the-art walking capabilities will enable seamless movement between well slots without the need for rig dismantling, significantly improving uptime, reducing emissions and lowering operating costs. Agencies
Zawya
05-05-2025
- Business
- Zawya
ADNOC Drilling awarded $806mln long-term contract for three newbuild island rigs
ADNOC Drilling Company announced today it has been awarded a contract for three island rigs by ADNOC Offshore for an estimated total contract value of US$806 million to support expanding operations at the offshore Zakum development project. These three rigs are in addition to three ordered in July 2024. Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO, said, 'ADNOC Drilling is proud to be awarded this significant, long-term contract, marking another major milestone in our accelerated growth journey. These next generation island rigs, built with embedded artificial intelligence, represent a leap forward in technology, enhancing safety, efficiency and performance. This award strengthens our position as a critical enabler of ADNOC's production capacity targets, while delivering sustainable, high-quality returns for our shareholders well into 2038 and beyond.' The contract will follow existing agreements that generate long-term revenue and attractive returns. The three new island rigs will operate on ADNOC's existing and newly constructed innovative artificial islands for drilling and completion of wells. Tayba Abdul Rahim Al Hashemi, Chief Executive Officer of ADNOC Offshore, said, 'We are focused on unlocking maximum value from the resources in Abu Dhabi's waters in the most efficient and innovative ways possible. These advanced island rigs delivered by ADNOC Drilling will play a vital role in achieving our production capacity goals and meeting global energy demand. Together, we are pushing the boundaries of technology, operational excellence and partnership to power sustainable growth.' This new generation of island rigs, expected to gradually join the fleet between 2027 and 2028, will be developed through a strategic collaboration between ADNOC Drilling and Honghua Group (HH). The partnership is formed specifically to embed the transformative power of AI, advanced digitalization and real-time analytics into rig design and operations. Leveraging real-time condition monitoring, performance optimsation and predictive analytics, the rigs will generate actionable insights that drive higher operational efficiency, improved well delivery times and enhanced safety. Designed to operate on ADNOC's pioneering artificial islands – home to the world's five longest wells, including a recent record-setting well at 53,000 feet – the rigs will be optimised for extended reach drilling (ERD). Additionally, state-of-the-art walking capabilities will enable seamless movement between well slots without the need for rig dismantling, significantly improving uptime, reducing emissions and lowering operating costs. The capital expenditure for acquiring these new island rigs is currently expected to be broadly similar to that of the three island rigs announced in July 2024.
Yemen Online
17-04-2025
- Business
- Yemen Online
ADNOC Drilling secures $1.63bn drilling services contract
The five-year contract encompasses services including directional drilling, drilling fluids, cementing, wireline logging and tubular running. ADNOC Drilling has been awarded a $1.63bn (Dh5.99bn) contract by ADNOC Offshore to provide integrated drilling services (IDS). The five-year contract encompasses a suite of services including directional drilling, drilling fluids, cementing, wireline logging and tubular running. The provision of these services is aimed at delivering extended reach and maximum reservoir wells offshore. ADNOC Drilling CEO Abdulrahman Abdulla Al Seiari said: 'We are immensely proud to secure this considerable award, which not only validates our strategic direction but also demonstrates the confidence ADNOC Offshore places in our capabilities. Our IDS offering delivers superior value and innovation, enabling us to play a pivotal role in reshaping the future of energy services in the region. 'This milestone underscores our commitment to operational excellence, and positions ADNOC Drilling as the partner of choice in an increasingly dynamic and complex energy landscape. 'This five-year award is a strong reflection of ADNOC Drilling's long-term contracting model, which provides revenue visibility and stability over the contract period. It aligns with our disciplined approach to building a resilient business foundation, capable of generating consistent cash flow and supporting sustainable shareholder returns through the cycle.' This strategic award is expected to support the burgeoning oilfield services segment and has already been factored into the company's financial guidance for 2025 and 2026. ADNOC will also provide Osaka Gas with up to 800,000 tonnes per annum of lower-carbon liquefied natural gas (LNG) from its Ruwais LNG project. ADNOC Offshore CEO Tayba Al Hashemi added: 'ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world's growing energy needs. This contract gives us access to their cutting-edge capabilities and market-leading end-to-end services, which will maximise efficiency and generate significant value for our shareholders and the UAE [United Arab Emirates].'
Yahoo
17-04-2025
- Business
- Yahoo
ADNOC Drilling secures $1.63bn drilling services contract
ADNOC Drilling has been awarded a $1.63bn (Dh5.99bn) contract by ADNOC Offshore to provide integrated drilling services (IDS). The five-year contract encompasses a suite of services including directional drilling, drilling fluids, cementing, wireline logging and tubular running. The provision of these services is aimed at delivering extended reach and maximum reservoir wells offshore. ADNOC Drilling CEO Abdulrahman Abdulla Al Seiari said: 'We are immensely proud to secure this considerable award, which not only validates our strategic direction but also demonstrates the confidence ADNOC Offshore places in our capabilities. Our IDS offering delivers superior value and innovation, enabling us to play a pivotal role in reshaping the future of energy services in the region. "This milestone underscores our commitment to operational excellence, and positions ADNOC Drilling as the partner of choice in an increasingly dynamic and complex energy landscape. 'This five-year award is a strong reflection of ADNOC Drilling's long-term contracting model, which provides revenue visibility and stability over the contract period. It aligns with our disciplined approach to building a resilient business foundation, capable of generating consistent cash flow and supporting sustainable shareholder returns through the cycle.' This strategic award is expected to support the burgeoning oilfield services segment and has already been factored into the company's financial guidance for 2025 and 2026. ADNOC will also provide Osaka Gas with up to 800,000 tonnes per annum of lower-carbon liquefied natural gas (LNG) from its Ruwais LNG project. ADNOC Offshore CEO Tayba Al Hashemi added: 'ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world's growing energy needs. This contract gives us access to their cutting-edge capabilities and market-leading end-to-end services, which will maximise efficiency and generate significant value for our shareholders and the UAE [United Arab Emirates].' "ADNOC Drilling secures $1.63bn drilling services contract" was originally created and published by Offshore Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Al Etihad
17-04-2025
- Business
- Al Etihad
ADNOC Drilling awarded $1.63 billion, five-year Integrated Drilling Services contract
17 Apr 2025 11:53 ABU DHABI (WAM) ADNOC Drilling Company announced Thursday that it has received a letter of award for a $1.63 billion, five-year contract for Integrated Drilling Services (IDS) from ADNOC landmark award reinforces ADNOC Drilling's unique position within ADNOC Group and as the region's leading provider of advanced, integrated energy services, reflects the strength of its strategy to expand its fleet, service offerings, and Drilling CEO, Abdulrahman Abdulla Al Seiari, said, 'We are immensely proud to secure this considerable award, which not only validates our strategic direction but also demonstrates the confidence ADNOC Offshore places in our capabilities. Our IDS offering delivers superior value and innovation, enabling us to play a pivotal role in reshaping the future of energy services in the region. This milestone underscores our commitment to operational excellence, and positions ADNOC Drilling as the partner of choice in an increasingly dynamic and complex energy landscape.''This five-year award is a strong reflection of ADNOC Drilling's long-term contracting model, which provides revenue visibility and stability over the contract period. It aligns with our disciplined approach to building a resilient business foundation, capable of generating consistent cash flow and supporting sustainable shareholder returns through the cycle.'The contract covers the provision of directional drilling, drilling fluids, cementing, wireline logging, and tubular running services. The award incorporates advanced engineering and technical support for the effective delivery of extended reach and maximum reservoir wells Offshore CEO, Tayba Al Hashemi, said, 'ADNOC Drilling is a key enabler on our accelerated journey to responsibly meet the world's growing energy needs. This contract gives us access to their cutting-edge capabilities and market-leading end-to-end services, which will maximise efficiency and generate significant value for our shareholders and the UAE.'This award is a clear endorsement of ADNOC Drilling's continued commitment to operational excellence, innovation, and the adoption of artificial technology (AI) and advanced technologies, underlining its ability to deliver end-to-end solutions that optimise performance while unlocking significant value for its contract supports the growing Oilfield Services segment, and its economic impact is already included in the current 2025 and 2026 guidance, underpinning the visibility of ADNOC Drilling's business model and in support for the Company's financial the demand for advanced, high-performance energy solutions increases, the growth of ADNOC Drilling's IDS portfolio is a cornerstone of the Company's strategy – enhancing fleet utilisation, diversifying revenue streams, and accelerating sustainable and long-term growth and IDS business brings a relatively new and fast-growing revenue stream to ADNOC Drilling, significantly enhancing business resilience and future-proofing the company through the cycles. With its leading market position in IDS in the UAE, ADNOC Drilling is uniquely positioned to capture further growth and deepen its leadership in this high-potential Drilling is leading the transformation of the energy services sector by adopting AI, integrating advanced technologies with deep industry knowledge and expertise with a relentless focus on operational efficiency. Its joint venture Enersol, a pioneering AI-centric investment platform, is at the forefront of this new energy technology era as it builds a scalable, future-facing AI and advanced technology ecosystem that is uniquely positioned to empower its portfolio of companies to lead in innovation, maximise synergies, and ultimately generate added value.
