Adnoc Drilling targets activities outside the United Arab Emirates with the increase of local capacity

Abu Dhabi's national oil company plans to target drilling outside the UAE and increase its local conventional resource drilling by 40% by 2025 with an increase in local production capacity of 4 million barrels a day now until 2020.

Adnoc Drilling, the only drilling rig provider for its parent company, will undertake local drilling activity with the help of American oil services company Baker Hughes, a GE company that has paid 550 millions of dollars for a 5% stake in the subsidiary Adnoc last year. Adnoc Drilling has also completed the first "fully integrated drilling service" in the Al Dabbyia land field. Integrated drilling services combine well drilling activity with a wide range of other complementary services required to bring the well into the production phase.

"The well was the first to be drilled in a fully integrated way – delivered to Drilling's customer, Adnoc Onshore …, which helps enable and support the growth and development of Adnoc Drilling while the target company new business opportunities in the UAE and beyond, "said Adnoc Sunday.

Adnoc increases its oil production capacity to 4 million bpd by 2020 and to 5 million bpd by 2030, with the help of international oil companies, which have been awarded interests in various oil and gas fields. The company is also looking for more value from its operations, including an expanding petrochemical and refining portfolio.

"In partnership with BHGE, Adnoc Drilling will generate predictable long-term revenue streams and market growth," said Abdulmunim Saif Al Kindy, upstream executive director of Adnoc.

"By leveraging a full range of drilling services, the company will also improve its operational performance in line with Adnoc's smart growth strategy for the 2030 horizon, which aims to increase its crude oil and crude oil production capacity. and optimize its costs and efficiency to create a more profitable upstream business. . "

Baker Hughes' acquisition of a 5% stake in Adnoc Drilling in October of last year valued the company at $ 11 billion.