Adnoc Drilling Gulf Expansion: Oilfield Tech Push
Abu Dhabi-listed Adnoc Drilling is expanding beyond its core business of providing rigs to oil and gas sites. The company’s recent deals include an 80 percent stake in MB Petroleum Services, which operates in Oman, Kuwait, Saudi Arabia and Bahrain, and a 70 percent stake in SLB Land Drilling Company, whose rigs operate in Oman and Kuwait.
Together, the businesses give Adnoc Drilling a 30-rig platform across the Gulf, while the company operates more than 170 rigs in total.
Adnoc Drilling’s Gulf expansion
Adnoc Drilling provides rigs to oil and gas sites. It is also developing new oilfield technologies through Enersol, its energy technology joint venture with Alpha Dhabi Holding, by identifying technologies, deploying them in its own operations and taking the strongest solutions to a wider customer base.
Technologies deployed through Enersol and Turnwell are contributing to faster well delivery, up to 19.6 percent quicker, drilling speeds improved by up to 30 percent, and well duration reduced by up to 4.5 days.
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Adnoc Drilling’s expansion outside the UAE
Through MBPS and SLDC, Adnoc Drilling has operating platforms, customer relationships and local market knowledge in place in Oman and Kuwait, as well as operations in Saudi Arabia and Bahrain through MBPS.
Abdulla Bin Desmal said, “The most attractive targets are those that accelerate Adnoc Drilling’s next chapter: becoming a broader, higher-value regional energy services platform. Scale matters, but scale alone is not enough.”
The next phase is about capturing more value from each well, with a greater share of business expected to originate from non-domestic markets and value creation increasingly driven by well solutions, integrated services and performance-enhancing technologies.
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