The Abu Dhabi National Oil Company (Adnoc) has awarded three contracts for the procurement of casing and tubing, whose combined scope is Dh13.2 billion, one of the world's largest in this category.
Announcing the mega deal, Adnoc said on Wednesday that the award is the first in a series of drilling-related procurement expenditures valued at more than Dh55 billion that it plans to make in the next 3 years.
Abdulmunim Saif Al Kindy, Adnoc Upstream executive director, said the award of contracts with a combined scope that is one of the world's largest for tubing and casing follows a highly competitive bid process.
It underscores Adnoc's optimisation efforts to drive commerciality across our growing portfolio. In addition, it is testament to our targeted approach to engage with value-add partners to unlock value as well as enhance the performance and returns on our assets and capital.
Al Kindy said the agreements would provide Adnoc with increased flexibility to proactively respond to the demands of...