Additional US$ 681mn contract awarded to ADNOC Logistics & Services
Abu Dhabi National Oil Company (ADNOC) recently announced the award of two substantial contracts totalling US$ 2bn (AED 7.49bn) to ADNOC Drilling for the Hail and Ghasha Development Projects.
The contracts comprise US$ 1.3bn (AED 4.89bn) for integrated drilling services and fluids, and US$ 711mn (AED 2.6bn) for the provision of four Island Drilling Units. A third contract, valued at US$ 681mn (AED 2.5bn), was also awarded to ADNOC Logistics & Services for the provision of 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) program and all three of the contracts will cover the Hail and Ghasha drilling campaign for a maximum of ten years, ADNOC revealed in a press communique.
“These substantial awards mark another important milestone in the delivery of the Ghasha mega-project. They also demonstrate the deep expertise and experience within ADNOC Drilling and the wider group to efficiently deliver complex projects that enable gas expansion, while generating substantial in-country value to drive economic growth and diversification,” commented HE Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO, ADNOC.
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