(WO) – ADNOC Drilling has received letters of award from Kuwait Oil Co. (KOC) for two high-specification offshore jackup rigs, with a combined maximum value of about $313.6 million (KWD 96.6 million). The awards, approved by Kuwait Petroleum Corp.’s Higher Procurement Committee, mark ADNOC Drilling’s entry into offshore Kuwait and its first offshore rig operations outside the UAE.
The contracts cover a four-year firm term, including mobilization, plus a one-year option that is not included in the contract value. ADNOC Drilling plans to use one of its own jackups and bareboat charter a second rig. Operations are expected to start in the fourth quarter of 2027, and the contracts are expected to make their first full-year financial contribution in 2028.
“This award marks ADNOC Drilling’s entry into offshore Kuwait and an important step forward in our international growth journey,” said Abdulla Naji Ateya Al Messabi, CEO of ADNOC Drilling. “We look forward to bringing our offshore expertise, disciplined execution and commitment to safe and reliable operations to this important market.”
ADNOC Drilling said the awards support the regional expansion pillar of its Drill-to-Operate strategy, which targets new customers, markets and revenue streams. The awards remain subject to conditions and final contract formalities.
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