Adnoc Drilling wins $2bn contracts for gas project

01 August 2022

Abu Dhabi National Oil Company (Adnoc) has announced the award of two substantial contracts totalling USD 2bn (AED 7.49bn) to Adnoc Drilling for the Hail and Ghasha Development Project.

The contracts comprise USD 1.3bn for integrated drilling services and fluids and USD 711Mfor providing four Island Drilling Units.

A third contract, valued at USD 681M was awarded to Adnoc Logistics & Services for providing offshore logistics and marine support services. 

Overall, more than 80% of the value of the awards will flow back into the UAE's economy under Adnoc's successful In-Country Value (ICV) programme and all three of the contracts will cover the Hail and Ghasha drilling campaign for a maximum of ten years.

The Hail and Ghasha Development Project is part of the Ghasha Concession,  is the offshore sour gas development and a key component of Adnoc's integrated gas masterplan as well as an important enabler of gas self-sufficiency for the UAE.