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.
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