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ADNOC awarded framework agreements valued at $658 million to 5 companies

More than 65 % of the award value could flow back into the UAE economy, under ADNOC’s in-country value (ICV) programme over the duration of the agreements

ADNOC awarded framework agreements valued at $658 million to 5 companies

Abu Dhabi, March 17 - Neftegaz.RU. ADNOC announced the awarding of contracts worth a total of 2.4 billion dirhams ($658 million) to supply cement to wells and wells of oil & gas, as part of its continued investment to boost growth in the field of operations.

The agreements were awarded to Halliburton Abu Dhabi, Baker Middle East, Emirates Western Oil Well Drilling & Maintenance, NESR Energy Services and Emjel Oil Field Services, covering ADNOC’s onshore & offshore fields and will run for 5 years with an option for a further 2 years.

Yasser Saeed Al Mazrouei, CEO of ADNOC’s Exploration, Development & Production Department said:
  • The oil & gas well laying and cementing service contracts support ADNOC’s plans and ongoing efforts to grow and expand drilling activities to achieve its goal of increasing its oil and gas production capacity and establishing its position as a reliable global supplier of less dense oil
Based on the contracts awarded today, the total value of framework agreements and procurement contracts related to drilling operations awarded by the Abu Dhabi state-owned company since November 2021 rises to more than $ 8.5 billion.

These contracts support ADNOC’s plans to drill thousands of new wells to achieve the goal of increasing its crude oil production capacity to 5 million barrels per day by 2030 and allow the UAE to achieve gas self-sufficiency.

Source : Neftegaz.RU


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