ADNOC Drilling Secures $806M Contract for New Island Rigs
Deal News | May 06, 2025 | Zawya
ADNOC Drilling Company PJSC has been awarded a substantial $806 million contract by ADNOC Offshore for the construction of three island rigs, intended to bolster operations at the Zakum development project. The new rigs are set to feature advanced technologies, including AI, to enhance safety and efficiency. This collaboration with Honghua Group emphasizes real-time monitoring and performance optimization. In support of Abu Dhabi's energy aspirations, these rigs will operate on artificial islands, marking another technological leap for ADNOC Drilling, which aims to continue delivering high-quality returns through to 2038.
Sectors
- Oil & Gas
- Technology
Geography
- United Arab Emirates – The activities and participants mentioned, including ADNOC Drilling, are based in the UAE, particularly focusing on offshore developments in Abu Dhabi.
- China – Honghua Group, a partner in developing the new rigs, is a Chinese entity, indicating international collaboration.
Industry
- Oil & Gas – The article involves ADNOC Drilling, a significant player in the oil and gas industry, especially concerning offshore drilling operations.
- Technology – The integration of AI and digitalization into the rig design and operations highlights the technological advancements in the energy sector.
Financials
- $806 million – The total contract value for the construction of three island rigs awarded to ADNOC Drilling by ADNOC Offshore.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ADNOC Drilling Company PJSC | Target Company | Company | Largest drilling and integrated drilling services company in the Middle East. |
| ADNOC Offshore | Bidding Company | Company | Responsible for upstream oil and gas operations in offshore Abu Dhabi. |
| Honghua Group | Other Company - Technology Partner | Company | Collaborates with ADNOC Drilling to integrate AI and digitalization in rig development. |