Latest news with #Dh5.99bn
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
