DUBAI - ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), plans a major expansion of its rig fleet by acquiring dozens of additional land, offshore and island rigs by 2025, the company said in a statement on Thursday.

ADNOC bought four technologically advanced and UAE-built land rigs with a total value of over AED 350 million ($100 million) in November, first phase of an expansion process to support a target of achieving a crude oil production capacity of 5 million barrels per day by 2030, according to the statement.

The rig additions take the value of UAE-built rigs in ADNOC Drilling to more than AED 7 billion ($2 billion).

 

 

(Reporting by Dahlia Nehme; Editing by Tom Hogue) ((dahlia.nehme@thomsonreuters.com;))