Retail
Subscription
Advertise
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LIL Awards UAE 2023
    • LIL Summit KSA 2023
    • LIL Awards UAE 2022
No Result
View All Result
LogisticsGulfNews.com
No Result
View All Result

ADNOC awards US$ 1.83bn framework agreements for drilling-related services

by Saee Joshi
April 11, 2023
in News

Over 75% of the award value could flow back into the UAE economy under ADNOC’s In-Country Value programme

ADNOC Rig Photo – supplied image

Abu Dhabi National Oil Company (ADNOC) recently announced the award of five framework agreements valued at US$ 1.83 bn (AED 6.72bn) for directional drilling and logging while drilling (LWD) to support its efforts to expand production capacity of its low carbon oil and gas resources to help meet the world’s growing demand for energy.

The framework agreements are the largest of such awards in the oil and gas industry and were awarded to Al Ghaith Oilfield Supplies and Services Company, Al Mansoori Directional Drilling Services; Schlumberger Middle East; Haliburton Worldwide Limited Abu Dhabi and Weatherford Bin Hamoodah Company following a competitive tender process.

The awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years. Over 75% of the award value could flow back into the United Arab Emirates (UAE) economy under ADNOC’s In-Country Value programme over the duration of the agreements.

“These awards build on our ongoing investments in drilling services and they will deliver substantial in-country value for the nation to support economic growth and diversification, in line with the UAE Leadership’s wise directives,” commented Yaser Saeed Almazrouei, Executive Upstream, ADNOC Upstream.

The framework agreement awards will support ADNOC’s requirement to drill thousands of new wells to expand its production capacity to five million barrels per day (mmbpd) by 2030, enable gas self-sufficiency for the UAE and remain a leading low-cost, low-carbon oil producer. The awards will also enable hundreds of millions of dollars in cost savings.

Want to stay updated on the latest industry news and trends? Subscribe today to receive your monthly news highlights directly in your inbox!

Tags: ADNOC awardsADNOC DrillingenergyUpstream
ShareTweetShareSend

Related Posts

Uterra to invest USD 20 million in Ras Al Khaimah’s first organic fertiliser project
Free Zones / Economic & Industrial Zones

Uterra to invest USD 20 million in Ras Al Khaimah’s first organic fertiliser project

September 27, 2023
DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural Industry Investment 
Contribution

DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural Industry Investment 

September 27, 2023
FedEx Wins ‘Logistics Company of the Year’ at the 2023 Logistics and Transport Awards
Contribution

FedEx Wins ‘Logistics Company of the Year’ at the 2023 Logistics and Transport Awards

September 27, 2023
MoIAT Delegation Visits RAKEZ to Explore Industrial Development Opportunities
Free Zones / Economic & Industrial Zones

MoIAT Delegation Visits RAKEZ to Explore Industrial Development Opportunities

September 26, 2023
Please login to join discussion

Search

No Result
View All Result

Recent News

Uterra to invest USD 20 million in Ras Al Khaimah’s first organic fertiliser project

Uterra to invest USD 20 million in Ras Al Khaimah’s first organic fertiliser project

September 27, 2023
DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural Industry Investment 

DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural Industry Investment 

September 27, 2023
FedEx Wins ‘Logistics Company of the Year’ at the 2023 Logistics and Transport Awards

FedEx Wins ‘Logistics Company of the Year’ at the 2023 Logistics and Transport Awards

September 27, 2023

LogisticsGulfNews.com, the niche media portal designed for the industry, is deeply committed to representing, serving and promoting the interests of the logistics and supply chain businesses in the region

Recent News

  • Uterra to invest USD 20 million in Ras Al Khaimah’s first organic fertiliser project
  • DCT Abu Dhabi Signs Partnership with Mubadala Foundation Initiating AED 50 Million Cultural Industry Investment 
  • FedEx Wins ‘Logistics Company of the Year’ at the 2023 Logistics and Transport Awards

Contact Us

For Editorial Opportunities
editor@logisticsgulfnews.com

For Advertising Opportunities
info@logisticsgulfnews.com

AARYA Media FZC LLC
A- 5805-189, Business Club
Ajman Media City.
P.O Box 29127
Phone: +971 4 368 8464
Ajman- United Arab Emirates

  • About Us
  • Advertise
  • Subscription
  • Contact Us

©️ 2021 Logistics Gulf News. All rights reserved

No Result
View All Result
  • Home
    • About Us
  • News
  • Transport
    • Air Cargo
    • Airlines
    • Maritime
    • Rail
    • Road
  • Ports
    • Airports
  • Materials Handling
    • Warehousing
  • Vehicles
    • Automobiles
    • Autonomous
    • Commercial
    • Construction
    • Truck & Fleet
  • E-commerce
  • Technology
    • Blockchain
    • IoT
    • Robotics
    • Telematics
  • Interviews
    • Analyses
    • Opinion
    • Outlook
    • View Point
  • Express Deliveries
  • Freight
  • FM
    • Waste Management
  • Expo 2020
  • Events
    • LIL Awards UAE 2023
    • LIL Summit KSA 2023
    • LIL Awards UAE 2022

©️ 2021 Logistics Gulf News. All rights reserved