ADNOC Drilling Wins $313.6 Million Kuwait Offshore Rig Contracts

ADNOC Drilling secured two high-specification offshore jackup rig contracts from the Kuwait Oil Company with a combined maximum value of approximately $313.6 million. The agreement, approved by the Kuwait Petroleum Corporation Higher Procurement Committee, establishes the company's first offshore rig operation outside the United Arab Emirates and marks its official entry into the Kuwaiti market.

The contracts include a four-year firm term, which covers mobilization, and an optional one-year extension. Operations are scheduled to commence in the fourth quarter of 2027, with the company expecting the first full-year financial contributions to materialize in 2028.

To fulfill the requirements of the agreement, the company will utilize one of its own jackup rigs and bareboat charter a second rig. CEO Abdulla Naji Ateya Al Messabi described the award as an important step in the company's international growth journey and stated that the firm looks forward to bringing its offshore expertise and commitment to safe operations to the market.