Abu Dhabi, UAE—ADNOC Drilling Company said Monday it has signed an agreement to acquire an additional three brand new high-specification offshore jack-up drilling units (rigs) for AED1.17 billion ($320 million).
The cost of the acquisition is part of the company’s three-year guidance on capital expenditure and its strategic growth plans.
The company earlier signed sale and purchase agreements for four rigs between May and August. Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 95 to 108 owned rigs, as of 30th September.
With the addition of the latest three high-specification rigs the Company will operate one of the largest offshore jack-up fleets in the world, with 30 rigs, and plans further growth in the short term.
The company reported a revenue of $1.94 billion for the first nine months of 2022, a 15 percent increase year-on-year, with $568 million in net profit – a 24 percent increase.