ADNOC Drilling Company has announced the award of a US$1.15bn contract from ADNOC Offshore for the provision of two jack-up rigs over a 15-year period, supporting the continued expansion of ADNOC’s offshore operations.
The contract builds on existing agreements and is expected to generate long-term revenue with attractive returns.
With a fleet of 47 offshore rigs, ADNOC Drilling operates one of the largest offshore drilling fleets globally, offering high levels of flexibility and reliability to meet growing demand while maintaining operational excellence and safety standards.
The newly contracted rigs are the latest generation of jack-ups and have been prepared for deployment at the Lamprell shipyard in Sharjah.
The project aligns with ADNOC Drilling’s focus on delivering high-quality solutions while maximising In-Country Value, supporting local partnerships, and advancing the UAE’s economic growth through homegrown innovation.
The rigs will feature advanced digitalisation, AI, and real-time data analytics to enhance safety, efficiency, and operational uptime.
Operations are expected to begin around the end of Q2 2025, with revenue contributions starting in the second half of the year.
The deal reinforces ADNOC Drilling’s medium-term outlook and underpins its strategy for stable, sustainable growth.
Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO, said, “This new contract is a clear vote of confidence in ADNOC Drilling’s technical leadership, operational excellence and long-term value creation. By integrating artificial intelligence (AI), automation and digitalisation capabilities, the two new jack-up rigs, our newest and most advanced jack-up rigs, will ensure superior efficiency and performance for our client ADNOC Offshore.
"With this contract securing operations until 2040 and beyond, and providing strong, resilient and predictable returns, we are not only reinforcing our role in achieving ADNOC’s production capacity milestones but also driving sustainable long-term growth for our shareholders.”
Tayba Abdul Rahim Al Hashemi, chief executive officer of ADNOC Offshore, said, “In the past month, ADNOC Offshore has awarded long-term contracts worth c. US$3.6bn to ADNOC Drilling to safely accelerate our production capacity growth plans. ADNOC Drilling’s advanced fleet of jack-up and island rigs, market leading integrated drilling services and cutting-edge technologies are critical enablers to deliver ADNOC’s ambitious strategy. This partnership will help us to sustainably meet the world’s growing energy demands and maximise value for shareholders for decades to come.”
