UAE's ADNOC Drilling wins $3.8bln drilling contract

Five-year agreement was signed with ADNOC Onshore

  
Image source Adnoc.

Image source Adnoc.

ADNOC Drilling Co. said on Thursday it has signed a five-year contract worth $3.8 billion with ADNOC Onshore to provide drilling services.

ADNOC Drilling, which is a subsidiary of Abu Dhabi's state oil company ADNOC, is listed on the Abu Dhabi Stock Exchange (ADX) after it went public in October. It is the largest national drilling company in the Middle East by rig fleet size and made a profit of $178.4 million in the three months ending September 30, 2021.  

(Writing by Brinda Darasha; editing by Seban Scaria) 

brinda.darasha@refinitiv.com

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© ZAWYA 2021

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