The company claims the agreements are the largest such awards in the oil and gas industry

Abu Dhabi National Oil Company (Adnoc) has awarded framework agreements worth $1.94 billion to multiple domestic and international service companies that would together enable drilling growth, aimed at boosting the emirate’s oil production capacity.

The state-owned company said on Thursday that the framework agreements involve “wireline logging and perforation services” and are the “largest of such awards in the oil and gas industry”.

The company noted that the awards were placed to its subsidiary Adnoc Drilling, Schlumberger Middle East, Haliburton Worldwide Limited Abu Dhabi and Weatherford Bin Hamoodah Company, following a competitive tender process.

“The awards build on Adnoc’s recent record investments in drilling-related equipment and services and support its strategy to boost crude oil production capacity to 5 million barrels per day by 2030 and drive gas self-sufficiency for the United Arab Emirates,” it said.

Five year agreements

The company said the agreements cover Adnoc’s onshore and offshore fields and will run for five years, with an option for a further two years.

source : https://www.upstreamonline.com/