INTERNATIONAL NEWS

ADNOC Hands Out Multi-billion-dollar Drilling Contracts

Abu Dhabi National Oil Co. (ADNOC)

ADNOC has awarded contracts with a combined value of $3.6 billion for the procurement of casing and tubing for the company’s drilling programs.

The recipients are Consolidated Suppliers Establishment, representing Tenaris; Abu Dhabi Oilfield Services Co., representing Vallourec; and Habshan Trading Co., representing Marubeni Corp.

The program includes more than $100 million in foreign direct investment over the next five years to establish a state-of-the-art oil country tubular goods (OCTG) threading plant and repair center in Abu Dhabi, along with a training academy to enhance local expertise.

In total the three contractors will supply 1 MM metric tons (1.1 MM tons) of casing and tubing over five years.

This is the first in a series of drilling-related procurement expenditures ADNOC plans to make over the next five years, with an overall value of $15 billion.

Others to come cover downhole completion equipment, wellheads, and x-mas trees, liner hangers, drilling fluids, directional drilling, cementing, and wireline logging.

 

Source: Offshore

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