ADNOC Drilling Co., a subsidiary of Abu Dhabi’s national oil company ADNOC, has signed a deal to acquire two offshore rigs for a combined cost of $140 million.

The sale and purchase agreement (SPA) to acquire the offshore jack-up drilling units follow three such agreements in recent months to acquire four such rigs, the company said in a regulatory filing on the Abu Dhabi Securities Exchange (ADX) on Monday.

With the addition of the new jack-up rigs, ADNOC Drilling will own 32 rigs, making it one of the largest operating fleets of offshore jack-up rigs in the world, it added.

Since listing in October 2021, ADNOC Drilling has rapidly expanded its fleet from 96 to 105 owned rigs, as of 31 July 2022.

(Writing by Brinda Darasha; editing by Cleofe Maceda)