Energy, Automobile, EV, Renewable News | ADNOC Drilling Purchases Two Premium Jack-Up Rigs

ADNOC Drilling Purchases Two Premium Jack-Up Rigs

September 26, 2022

ADNOC Drilling Company PJSC today announced it has signed a Sale and Purchase Agreement (“SPA”) to acquire an additional two premium offshore jack-up drilling units (the “rigs”).

The acquisition, which underpins the company’s accelerated fleet expansion and enterprising growth, is the fourth confirmed by the Company in recent months. Earlier sale and purchase agreements were signed on 30 May (for two rigs), 10 June (one rig) and 24 August (one rig).

The two new rigs have a combined cost of $140 million and will join the ADNOC Drilling fleet and commence operations by the end of 2022.

ADNOC Drilling continues to demonstrate strong and resilient growth combined with a sustainable and progressive dividend. In the first half of 2022 the Company delivered revenue of $1.27 billion, a 13% increase year-on-year, with $379 million in net income – a 34% increase. It also confirmed that the interim dividend per share increased by 5% to 7.83 fils per share, bringing the first payment of fiscal year 2022 to $341 million.

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