Abu Dhabi National Oil Company (Adnoc) has awarded a trio of framework agreements to leading domestic and international drilling services giants, as the emirate steps up its upstream spending, aimed at achieving 5 million barrels per day of oil production capacity in the coming years.
The state-controlled giant said the deals are together “valued at $4 billion” and involve integrated drilling fluids services to support the “ongoing expansion of its lower cost and lower-carbon intensive production capacity”.
The awards were given to Adnoc Drilling, Schlumberger and Halliburton.
“They cover Adnoc’s onshore and offshore fields and will run for five years with an option for a further two years,” Adnoc noted.
The Abu Dhabi giant has awarded multiple framework deals this year, as it is said to be bringing forward its target of producing 5 million bpd from 2030 to 2025.
The Oriental Pro-Energy Consulting Organization (Topco)
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