Abu Dhabi’s Adnoc this week signed three drilling-related procurement contracts with a combined value of $3.6bn. This huge sum highlights Adnoc’s ambitious expansion plan, but is itself less than a quarter of the $15bn that the firm plans to spend on drilling procurement over the next three years.
Adnoc has established itself as one of the most dynamic NOCs in the region and last November had its mammoth $123bn 2019-2023 business plan approved by the Supreme Petroleum Council (MEES, 9 November 2018). As the latest awards highlight, this is generating numerous lucrative contracts for contractors. (CONTINUED - 597 WORDS)