Middle EastOffshore

Adnoc buys two jackup rigs

UAE-based Adnoc Drilling, the largest national drilling company in the Middle East by rig fleet size, has acquired two offshore jackup rigs from Well Target Five Limited and Well Target Six Limited for an undisclosed sum.

According to VesselsValue data, Well Target Five and Well Target Six own the 2018-built SMS Mariam and SMS Faith, respectively, each worth around $71m. The units will join the Adnoc Drilling fleet and start operations in the third quarter of 2022.

Since listing on the Abu Dhabi Securities Exchange in October 2021, ADNOC Drilling has expanded its fleet from 96 to 104 owned rigs as of March 31, 2022, with further plans for expansion.

“This is another important step in our fast-paced expansion and growth program, and to meet the growing demand to achieve Adnoc’s ambitious goals of increasing its oil production capacity and achieving gas self-sufficiency for the UAE,” said Abdulrahman Abdullah Al Seiari, CEO of ADNOC Drilling.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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