https://arab.news/8wmht
RIYADH: UAE’s ADNOC Drilling Co. has signed a $70 million sale and purchase agreement to acquire an additional premium offshore jack-up drilling unit as the firm accelerates its fleet expansion plan.
The agreement is the third signed by the company in recent months, with a deal for two premium drilling units signed in May, and another for one premium drilling unit signed in June, according to a statement.
All four premium offshore drilling units are expected to join ADNOC’s fleet by the end of the year, which brings the company’s total offshore jack-up fleet to 28 operational units.
“The acquisition of this additional premium drilling unit is central to our bold growth strategy and the rig will support us in delivering on our commitments to shareholders,” CEO Abdulrahman Abdullah Al Seiari said.