ADNOC announces its intention to float a 7.5%minority stake of ADNOC Drilling on Abu Dhabi Securities Exchange (ADX).
ADNOC Drilling is the largest national drilling company in the Middle East by rig fleet size, with 96 owned rigs.
Subscriptions will start on 13 September and close on 23 September 2021 and shares will start trading on 3 October 2021 on the ADX.
We operate responsibly on land, at sea and on ADNOC’s unique artificial islands off Abu Dhabi’s coastline, delivering start-to-finish well drilling and construction across both conventional and unconventional reservoirs.
We have the largest fleet in the Middle East, of 96 owned rigs and a dedicated workforce of 8,000 engineers, specialists and technicians, who, together, contribute to help maintain ADNOC’s status as one of the lowest-cost oil producers in the world.
Our Onshore fleet consists of 65 land rigs of varying specifications, including several high-capacity workover rigs, empowering us to drill a wide range of oil and gas wells and handle the most challenging drilling programs effectively and efficiently. The rigs minimize non-productive time while maintaining the highest standards of health and safety.
Our offshore fleet of 21 jack up rigs and 1 barge are outfitted with high specification equipment and capable of drilling in 200 feet of water and to a depth of 30,000 feet.
ADNOC Drilling has the largest fleet of drilling rigs in the Middle East. Each of our 96 rigs is designed to drill for oil and gas but they’re not all the same.
Some of our newest, most-technologically advanced rigs were built in the UAE. This was a first for a country in the Middle East and an example of how ADNOC Drilling invests considerably in the country’s economy.
As ADNOC’s first subsidiary, for nearly 50 years ADNOC Drilling has drilled wells to enable ADNOC to sustainably unlock Abu Dhabi’s oil and gas wealth for the benefit of the nation. We have done so by reinforcing ADNOC’s long-standing commitment to environmental and social stewardship across our areas of operation.