ADNOC Drilling and Abu Dhabi National Oil Company (ADNOC) signed a contract worth 6.24 billion dirhams (equivalent to 1.7 billion dollars); To provide integrated drilling services for exploration of non-conventional energy sources in the Emirates.

Under this contract, Turnwell will be responsible for drilling and outfitting 144 unconventional energy and gas wells.

The CEO of the Exploration, Development and Production Department at ADNOC, Abdul Moneim Saif Al Kindi, confirmed that this contract comes within the framework of the company’s efforts to accelerate the exploration of energy sources in Abu Dhabi. To meet the growing global demand for these vital resources and provide them sustainably and at affordable prices.

Al Kindi added that the non-conventional energy sources in Abu Dhabi are considered the largest in the world, and the award of this contract represents the beginning of achieving a qualitative transformation in the company’s operations, expecting the contract’s revenue flows to begin during the second half of 2024.

ADNOC Drilling has owned five land-based rigs since December 31, 2023, and is preparing to implement this strategic mission. ADNOC Drilling also established the Turnwell Company to implement the contract requirements and explore promising unconventional energy sources.

An initial agreement was concluded to enter into a strategic partnership with Schlumberger Middle East and Patterson-UTI International Holding, and the terms of this partnership will become effective after signing final binding agreements and obtaining the necessary legal approvals.