ADNOC Drilling’s new incorporated company, Turnwell Industries, will deliver a total of 144 unconventional wells, as per its new $1.7 billion contract. (Source: Shutterstock)
ADNOC has awarded ADNOC Drilling Co. with a $1.7 billion contract to provide drilling and associated services for the recovery of unconventional energy resources.
To service the contract and explore future opportunities in unconventional resources, ADNOC Drilling has incorporated a new company, Turnwell Industries LLC. ADNOC Drilling also entered into a strategic partnership with Schlumberger Middle East SA (SLB) and Patterson-UTI International Holdings Inc., subject to definitive agreements and regulatory approvals.
The contract will see Turnwell deliver 144 unconventional oil and gas wells.
ADNOC Drilling will use Enersol, its recent joint venture with Alpha Dhabi Holding, to leverage AI smart drilling, completions engineering and other solutions to assist in development.
The initial phase of unconventional development is expected to employ up to nine land rigs, five of which are already part of ADNOC Drilling’s fleet. The contract is expected to begin contributing to ADNOC Drilling’s revenue towards the second half of 2024.
Recommended Reading
E&P Highlights: March 25, 2024
2024-03-25 - Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.
Seatrium Awarded Contract for FPSO Bound for Guyana’s Stabroek
2024-05-17 - The topsides fabrication and integration contract will be for the FPSO Jaguar, bound for the Whiptail Field in the Stabroek block offshore Guyana for Exxon Mobil.
Exxon Ups Mammoth Offshore Guyana Production by Another 100,000 bbl/d
2024-04-15 - Exxon Mobil, which took a final investment decision on its Whiptail development on April 12, now estimates its six offshore Guyana projects will average gross production of 1.3 MMbbl/d by 2027.
Exxon Mobil Green-lights $12.7B Whiptail Project Offshore Guyana
2024-04-12 - Exxon Mobil’s sixth development in the Stabroek Block will add 250,000 bbl/d capacity when it starts production in 2027.
TotalEnergies FIDs Two Developments Offshore Brazil
2024-05-28 - TotalEnergies took FID for two developments offshore Brazil in the prolific Santos Basin where the French energy giant expects its equity production to soon exceed 200,000 boe/d.