Enjoy our faster App experience

Adnoc Drilling completes first offshore IDS well

Adnoc Drilling completes first offshore IDS well
by

Issac John

Published: Tue 24 Sep 2019, 10:36 PM

Last updated: Wed 25 Sep 2019, 12:40 AM

Adnoc Drilling, the largest drilling company in the Middle East, announced on Tuesday the completion of its first offshore integrated drilling services (IDS) well in Abu Dhabi's Umm Lulu offshore oilfield.
The company, a subsidiary of the Abu Dhabi National Oil Company, said the milestone follows the completion of 14 onshore IDS wells since March this year when the first such well was drilled in the Al Dabbyia onshore field.
In a statement, the company which operates a fleet of rigs that includes 60 land rigs, 20 jackup rigs, and 11 island rigs, said the offshore IDS well underpinned its transformation into a fully integrated drilling services company that offers start-to-finish drilling and well construction operations.The new offshore well, which was completed ahead of schedule and within budget, was delivered to Adnoc Offshore.
"Our first offshore IDS well and the 14 onshore IDS wells drilled over the course of this year have shown an increase in our drilling performance by about 25 per cent, resulting in considerable cost savings and increased well profitability," said Abdulmunim Saif Al Kindy, Adnoc Upstream executive director.
He said the milestone firmly positions drilling major as a leading provider of comprehensive drilling and well construction services. "It also positions Adnoc Drilling as the first national integrated drilling company in the region at an important time, when we are substantially expanding our oil production capacity, unlocking Abu Dhabi's vast conventional and unconventional hydrocarbon resources, and driving efficiencies across all of our operations to deliver more value to the UAE and our partners."
 Adnoc plans to grow its conventional drilling activity by 40 per cent by 2025 and substantially ramp up the number of its unconventional wells, as it targets an increase in oil production capacity to four million barrels per day by the end of 2020 and five million by 2030.
Abdalla Saeed Al Suwaidi, chief executive officer of Adnoc Drilling, said the achievement, which followed a strategic partnership with Baker Hughes, a GE company, further strengthens the company's pivotal role in enabling Adnoc's planned increase of hydrocarbon production capacity across its onshore and offshore fields.
Offshore fields contribute close to 50 per cent of Adnoc's daily oil production capacity. "Given the substantial impact wells and drilling have on the cost of upstream projects, it is essential that Adnoc Drilling effectively replicates the successes and efficiencies already achieved onshore to its offshore fields. - issacjohn@khaleejtimes.com
 




More news from Business