What's Hot

    First A380 service to Bali to be launched by Emirates

    March 24, 2023

    An oasis of tranquility for the diverse Abu Dhabi community – Abrahamic Family House

    March 24, 2023

    Italian football league Lega Serie A opens office in Abu Dhabi

    March 11, 2023
    Facebook Twitter Instagram
    Niger LiveNiger Live
    • Automotive
    • Business
    • Entertainment
    • Health
    • Lifestyle
    • Luxury
    • News
    • More
      • Sports
      • Technology
      • Travel
    Niger LiveNiger Live
    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

    Dollar slips as investors await Powell testimony

    March 6, 2023

    UAE, Egypt, Jordan, and Bahrain sign $2 billion in industrial deals

    February 27, 2023

    Winter storm shuts down parts of the northern U.S.

    February 22, 2023

    Aid for solar, wind industries sought by German economy minister

    February 22, 2023
    Latest News

    First A380 service to Bali to be launched by Emirates

    March 24, 2023

    An oasis of tranquility for the diverse Abu Dhabi community – Abrahamic Family House

    March 24, 2023

    Italian football league Lega Serie A opens office in Abu Dhabi

    March 11, 2023
    © 2021 Niger Live | All Rights Reserved
    • Home
    • Contact Us

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