What's Hot

    Global Citizen Forum Unveils Earth Age – the Second Chapter of the Butterfly Effect Trilogy

    September 20, 2023

    Dante Genomics partners with Amazon Web Services (AWS) to launch groundbreaking AI platform for precision medicine and clinical genomics

    September 20, 2023

    TUMI SHOWCASES ITS NEW ALPHA COLLECTIONS THROUGH AN EXTENSION OF ITS ‘ESSENTIALLY BEAUTIFUL’ CAMPAIGN

    September 20, 2023
    Facebook Twitter Instagram
    Amman MailAmman Mail
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • Sports
    • Technology
    • Travel
    Amman MailAmman Mail
    Home » Drilling fluids services contract awarded to ADNOC Drilling for $1.6 billion
    Business

    Drilling fluids services contract awarded to ADNOC Drilling for $1.6 billion

    November 2, 2022
    Facebook Twitter Pinterest Reddit Telegram LinkedIn Tumblr VKontakte WhatsApp Email

    To meet the rising global demand for energy, ADNOC Drilling Company has awarded Integrated Drilling Fluids Services (IDFS) a five-year framework agreement valued at up to $1.6 billion. The agreement will help ADNOC expand its lower-cost and lower-carbon production capacity. Oilfield Services (OFS) revenue will increase by $150 million per year based on the award, which covers both onshore and offshore fields. With this contract award, ADNOC Drilling has confirmed $8.85 billion in awards for 2022, of which $1.15 billion was incremental to its previously disclosed revenue guidance.

    Drilling fluids services contract awarded to ADNOC Drilling for $1.6 billionIn order to capitalize on market opportunities, ADNOC Drilling is committed to expanding its offering. With the IDFS award, the Company will be able to achieve and exceed its goal of doubling OFS revenues by 2025. ADNOC Drilling celebrated one year since listing on the Abu Dhabi Securities Exchange on 3rd October 2022. The IPO was the largest in the exchange’s history and had a 31-to-1 oversubscription at the time. According to the company’s audited financial statements, the company returned 53.7% to shareholders as of 30th September 2022.

    Share. Facebook Twitter Pinterest LinkedIn Reddit Email

    Related Posts

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023

    Digital work revolution sees the world’s gig economy expand by 12 percent

    September 8, 2023
    Latest News

    Annual Investment Meeting announces new identity as AIM Congress, gears up for 13th edition in Abu Dhabi, May 2024

    September 19, 2023

    From India to Brazil, leadership transition marks G20 Summit’s conclusion

    September 11, 2023

    African Union Inducted into G20 on India’s Initiative

    September 9, 2023

    Biden and Modi cement ties as India ascends global stage

    September 9, 2023
    © 2021 Amman Mail | All Rights Reserved
    • Home
    • Contact Us

    Type above and press Enter to search. Press Esc to cancel.