As Adnoc’s upstream investment plans gather pace after being disrupted by the Covid-19 pandemic, the firm aims to substantially increase drilling activity (MEES, 12 November). On 16 November, Adnoc announced “record $6bn investments to enable drilling growth,” in a bid to hit its 2030 5mn b/d crude capacity and gas self sufficiency targets. Adnoc says “the investments are in the form of procurement awards to top-tier contractors for: Wellheads and related components; Downhole Completion Equipment (DCE) and related services; and Liner Hangers and Cementing Accessories.”
Adnoc adds that $185mn of foreign direct investment will flow into Abu Dhabi to establish two wellhead manufacturing and assembly facilities. (CONTINUED - 250 WORDS)
