$313.6 million deal takes ADNOC Drilling’s rig duo beyond UAE waters to Kuwait
ADNOC Drilling has lined up multimillion-dollar jobs for two jack-ups, marking its first offshore rig operations outside the UAE.
UAE-based drilling giant ADNOC Drilling is expanding its operations beyond the United Arab Emirates for the first time by securing letters of award with a combined value of $313.6 million with the Kuwait Oil Company (KOC), a subsidiary of Kuwait’s state-owned national oil corporation the Kuwait Petroleum Corporation (KPC), to deploy two high-specification offshore jack-up rigs on multi-year assignments.
ADNOC Drilling has disclosed that Kuwait Petroleum Corporation Higher Procurement Committee (KPCHPC) approved the award of separate contracts for two offshore rigs, which will work for the Kuwait Oil Company.
The combined maximum value of these two deals is KWD 96,554,561.040 (approximately $313.6 million). The contracts represent the UAE firm’s entry into the drilling market offshore Kuwait.
The awards contemplate a four-year firm term inclusive of mobilization, with an additional one-year option. The drilling operations are expected to begin in the fourth quarter of 2027.
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