UAE state-owned oil company Abu Dhabi National Oil Company (ADNOC) has announced the awarding of three multi-billion-dollar contracts for the procurement of casing and tubing.
The contracts - which were awarded to Consolidated Suppliers Establishment, representing Tenaris S.A. (from Luxembourg); Abu Dhabi Oilfield Services Company, representing Vallourec S.A. (from France); and Habshan Trading Company, representing Marubeni Corporation (from Japan) - have a combined scope of AED 13.2 billion ($3.6 billion) and are the first steps of AED 55 billion ($15 billion) of total drilling-related procurement expenditures that ADNOC plans to make over the next five years.
Under these contracts, the three companies will supply a combined 1 million mt of casing and tubing, for five years, to support ADNOC’s drilling operations.
These awards with a potential of AED 6.6 billion ($1.8 billion) and more to flow back into the UAE economy will strongly support the country’s products and services while creating new employment opportunities.
Abdulmunim Saif Al Kindy, ADNOC upstream executive director, said, “These agreements will provide ADNOC with increased flexibility to proactively respond to the demands of the evolving energy landscape as we ramp up our drilling activities and deliver our 2030 strategy.”