ADNOC Drilling Co., a subsidiary of Abu Dhabi’s national oil company ADNOC, has signed a deal to acquire two offshore rigs for a combined cost of $140 million.
The sale and purchase agreement (SPA) to acquire the offshore jack-up drilling units follow three such agreements in recent months to acquire four such rigs, the company said in a regulatory filing on the Abu Dhabi Securities Exchange (ADX) on Monday.

With the addition of the new jack-up rigs, ADNOC Drilling will own 32 rigs, making it one of the largest operating fleets of offshore jack-up rigs in the world, it added.

Since listing in October 2021, ADNOC Drilling has rapidly expanded its fleet from 96 to 105 owned rigs, as of 31 July 2022.
Source: Reuters (Writing by Brinda Darasha; editing by Cleofe Maceda)