ADNOC Drilling Company has signed a $75 million agreement for the purchase of six newbuild hybrid power land rigs, the company revealed in a statement.

Honghua Golden Coast will build the rigs and will progressively enter the fleet from the second quarter of 2024, with partial revenue and EBITDA contribution from 2024 and full year contribution from all rigs in 2025.

With this new award, and following an announcement in March detailing an agreement for 10 newbuild hybrid power rigs, ADNOC Drilling’s total booking order now stands at 16 newbuild hybrid power land rigs to date.

All of these newbuild rigs are part of the medium-term guidance to get to an owned-rig count of 142 by the end of 2024.

source : https://www.oilandgasmiddleeast.com/