ADNOC Drilling, a subsidiary of the Abu Dhabi National Oil Company (ADNOC), has completed its first offshore integrated drilling services (IDS) well in Abu Dhabi’s Umm Lulu offshore oilfield.
This milestone follows the completion of 14 onshore IDS wells over the course of this year, underpinning ADNOC Drilling’s transformation into a fully integrated drilling services company that offers start-to-finish drilling and well construction operations, ADNOC said on Tuesday.
This first offshore IDS well delivered to ADNOC Drilling’s client, ADNOC Offshore – also a subsidiary of ADNOC – was completed ahead of schedule and within budget.
Abdulmunim Saif Al Kindy, ADNOC Upstream Executive Director, said: “Our first offshore IDS well and the 14 onshore IDS wells drilled over the course of this year have shown an increase in our drilling performance by about 25 percent, resulting in considerable cost savings and increased well profitability. The successful offshore well completion was delivered in record-breaking time, as were the previous onshore IDS wells.”
ADNOC plans to grow its conventional drilling activity by 40 percent by 2025 and substantially ramp up the number of its unconventional wells, as it targets an increase in oil production capacity to 4 million barrels per day by the end of 2020 and 5 million by 2030. Integrating new drilling and completion capabilities, enables ADNOC Drilling to capitalize on this growth as it supports the wider ADNOC Group to capture more value from every barrel of oil it produces.
Abdalla Saeed Al Suwaidi, CEO of ADNOC Drilling, said: “Extending our comprehensive oilfield service offering to offshore wells less than a year after commencement of our transformation to an IDS company is an important milestone for ADNOC. This achievement, which followed our strategic partnership with Baker Hughes, a GE company, further strengthens our pivotal role in enabling ADNOC’s planned increase of hydrocarbon production capacity across its onshore and offshore fields.”
ADNOC’s offshore fields contribute close to 50 percent of ADNOC’s daily oil production capacity.
It is worth mentioning that ADNOC Offshore has recently awarded a $220 million contract to the U.S. oilfield services provider Weatherford for the provision of directional drilling services.
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