ADNOC intending to obtain dozens of rigs by 2025
ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Business (ADNOC), has actually introduced a significant gear fleet growth programme to sustain ADNOC's upstream development plans and allow the shipment of its 2030 Smart Growth Method.
In Oilfield Chemicals of the wider development program, ADNOC obtained, in November 2019, four technically advanced and also UAE-built land rigs with a complete value of over AED 350 million (US$ 100 million). Adhering to the integration of the 4 rigs, which will certainly sign up with the fleet in 1Q20, ADNOC Boring intends to obtain lots of extra land, offshore, and also island gears by 2025.
The growth program was introduced at the 15th annual Gear Owners Seminar, which is organised by ADNOC Exploration in cooperation with DNV GL and hung on the sidelines of the Abu Dhabi International Oil Event and also Meeting (ADIPEC).
Abdulmunim Saif Al Kindy, ADNOC Upstream Executive Supervisor and also Chairman of the Board of Supervisors of ADNOC Boring, stated: "ADNOC Drilling's gear fleet expansion highlights ADNOC's drive to unlock as well as increase worth from Abu Dhabi's substantial hydrocarbon resources and will certainly even more boost exploration and also well-completion performances. The program is an essential enabler of our plans to considerably raise boring for conventional oil and gas in addition to considerably ramp up the number of unconventional wells, as we grow our oil production capability and also job to achieve gas self-sufficiency for the UAE.
" This major gear development programme cements ADNOC Drilling's placement as the largest boring business between East and the region's first completely Integrated Exploration Provider (IDS) company and also will certainly sustain ADNOC's target to accomplish a crude oil production capability of 5 million barrels per day by 2030."
The four new rigs gotten in November 2019 were produced in the UAE by National Oilwell Varco (NOV) as well as will be released in ADNOC's onshore areas, which currently contribute more than 50% of ADNOC's everyday Murban oil manufacturing capacity. Obtaining UAE-built rigs, underpins ADNOC's In-Country Worth strategy, aimed at the growth and diversity of the UAE's economy. The gear enhancements take the worth of UAE-built gears in ADNOC Drilling to greater than AED 7 billion (US$ 1.9 billion).
Abdalla Saeed Al Suwaidi, Chief Executive Officer of ADNOC Drilling, stated: "Our rig fleet has actually broadened greater than three-fold in less than a decade, from 29 rigs in 2010 to our existing 95 gears. The following phase of development will additionally enhance ADNOC Boring's capacities as well as strengthen our crucial duty of supporting the ADNOC Group in catching more worth from every barrel of oil it creates. On top of that, the property of modern, diverse, and technically progressed rigs enhances our functional efficiency as we amplify our drilling tasks in accordance with ADNOC's 2030 clever growth strategy and also a more lucrative upstream."
Complying with the honor to Baker Hughes of a 5% share in ADNOC Boring in 2018, ADNOC Exploration transformed right into a completely Integrated Boring Solutions (IDS) organisation that can providing start-to-finish drilling and well-construction.
The business's service offering includes the entire drilling value chain by integrating a variety of oilfield solutions, catching more value from ADNOC's upstream development and the substantial rise in the number of wells required because of this. The application of IDS has enhanced drilling performance by approximately 25%, resulting in considerable cost financial savings and also enhanced well productivity.
ADNOC's Rig Owners' seminar serves as an essential platform for rig proprietors, classification cultures, operating firms, and aquatic and overseas provider that convene to trade expertise and also share finest methods on boosting boring efficiency, possession honesty, as well as HSE performance.
The full-day workshop consisted of several technological presentations that covered different aspects of technology adoption in the boring market, offered by a team of very certified specialists from GCC and also global companies.
In Oilfield Chemicals of the wider development program, ADNOC obtained, in November 2019, four technically advanced and also UAE-built land rigs with a complete value of over AED 350 million (US$ 100 million). Adhering to the integration of the 4 rigs, which will certainly sign up with the fleet in 1Q20, ADNOC Boring intends to obtain lots of extra land, offshore, and also island gears by 2025.
The growth program was introduced at the 15th annual Gear Owners Seminar, which is organised by ADNOC Exploration in cooperation with DNV GL and hung on the sidelines of the Abu Dhabi International Oil Event and also Meeting (ADIPEC).
Abdulmunim Saif Al Kindy, ADNOC Upstream Executive Supervisor and also Chairman of the Board of Supervisors of ADNOC Boring, stated: "ADNOC Drilling's gear fleet expansion highlights ADNOC's drive to unlock as well as increase worth from Abu Dhabi's substantial hydrocarbon resources and will certainly even more boost exploration and also well-completion performances. The program is an essential enabler of our plans to considerably raise boring for conventional oil and gas in addition to considerably ramp up the number of unconventional wells, as we grow our oil production capability and also job to achieve gas self-sufficiency for the UAE.
" This major gear development programme cements ADNOC Drilling's placement as the largest boring business between East and the region's first completely Integrated Exploration Provider (IDS) company and also will certainly sustain ADNOC's target to accomplish a crude oil production capability of 5 million barrels per day by 2030."
The four new rigs gotten in November 2019 were produced in the UAE by National Oilwell Varco (NOV) as well as will be released in ADNOC's onshore areas, which currently contribute more than 50% of ADNOC's everyday Murban oil manufacturing capacity. Obtaining UAE-built rigs, underpins ADNOC's In-Country Worth strategy, aimed at the growth and diversity of the UAE's economy. The gear enhancements take the worth of UAE-built gears in ADNOC Drilling to greater than AED 7 billion (US$ 1.9 billion).
Abdalla Saeed Al Suwaidi, Chief Executive Officer of ADNOC Drilling, stated: "Our rig fleet has actually broadened greater than three-fold in less than a decade, from 29 rigs in 2010 to our existing 95 gears. The following phase of development will additionally enhance ADNOC Boring's capacities as well as strengthen our crucial duty of supporting the ADNOC Group in catching more worth from every barrel of oil it creates. On top of that, the property of modern, diverse, and technically progressed rigs enhances our functional efficiency as we amplify our drilling tasks in accordance with ADNOC's 2030 clever growth strategy and also a more lucrative upstream."
Complying with the honor to Baker Hughes of a 5% share in ADNOC Boring in 2018, ADNOC Exploration transformed right into a completely Integrated Boring Solutions (IDS) organisation that can providing start-to-finish drilling and well-construction.
The business's service offering includes the entire drilling value chain by integrating a variety of oilfield solutions, catching more value from ADNOC's upstream development and the substantial rise in the number of wells required because of this. The application of IDS has enhanced drilling performance by approximately 25%, resulting in considerable cost financial savings and also enhanced well productivity.
ADNOC's Rig Owners' seminar serves as an essential platform for rig proprietors, classification cultures, operating firms, and aquatic and overseas provider that convene to trade expertise and also share finest methods on boosting boring efficiency, possession honesty, as well as HSE performance.
The full-day workshop consisted of several technological presentations that covered different aspects of technology adoption in the boring market, offered by a team of very certified specialists from GCC and also global companies.
