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ADNOC drilling expands fleet with new jack-up rigs

Monday, 23 December 2024 10:08

By ARN News Staff

WAM

ADNOC Drilling has enhanced its operational capabilities by receiving two new jack-up rigs, set to become operational in the first quarter of 2025.

This expansion brings the company's fleet to 142 rigs, solidifying its position among the world's largest drilling companies.

The addition of these rigs highlights ADNOC Drilling’s successful operational strategy in 2024.

An analytical report by JP Morgan praised the company's stable performance since its IPO, consistently exceeding expectations across market cycles.

The company also made significant strides in joint ventures, with "Inersol" acquiring four oilfield services companies, and "Turnwell" achieving a record time in initial drilling operations.

Looking ahead, ADNOC Drilling expects continued growth, having raised its financial forecast for 2025 after strong third-quarter results.

The company is on track to achieve a record performance in the fourth quarter with positive growth indicators.

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