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ADNOC Drilling to Acquire Two More Rigs for $200mn

ADNOC Drilling Co., a subsidiary of Abu Dhabi’s national oil company ADNOC, has signed a deal to acquire two offshore drilling rigs for a combined cost of $200 million. 

 

The acquisition is part of the company’s fleet expansion and growth strategy, the company said in a regulatory filing on the Abu Dhabi Securities Exchange (ADX).

 

This rig purchase adds to earlier deals for a total of nine rigs signed in 2022 and four rigs acquired in 2021. “Our objective is to be operating a total fleet of at least 122 owned rigs by 2024...," said CEO Abdulrahman Abdullah Al Seiari.

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