Abu Dhabi's state-owned Adnoc has signed an agreement to acquire two offshore jack-up drilling units to support the company's ambitious plans to boost its crude and natural gas production capacity.
The new rigs — being acquired from Well Target Five and Well Target Six — will start operations in the third quarter of this year year, boosting the company's drilling fleet to 106, the largest among any state-owned company in the Middle East, Adnoc said. The firm did not disclose the value of the agreement.
Before this acquisition, Adnoc had added eight rigs to its fleet since the company listed its drilling subsidiary on the Abu Dhabi Securities Exchange in October 2021.
Source: Argus
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