Weatherford International, a leading global energy services company based in Houston, has announced that it has signed a five-year framework agreement with Abu Dhabi National Oil Company (Adnoc), to provide directional drilling and logging-while-drilling services for a key project of the group.
The contract is currently valued at over $400 million, stated the US-based firm. However, Adnoc has an option to extend the contract for an additional two years, it added.
The Weatherford Drilling Services portfolio includes a suite of technology that combines world-class services, real-time information analysis, and innovative drilling tools to maximize efficiency in any environment.
According to the US-based group, deploying these service and technology offerings will add value to Adnoc’s drilling operations by minimising Opex, reducing risks, and optimising production. These benefits are mission-critical to the Abu Dhabi group’s near- and long-term goals.
Weatherford President and CEO Girish Saligram said: "We are thrilled about this award as it showcases our commitment to creating value for every customer through our differentiated technology and services."
"Our field-proven directional and logging-while-drilling services and technology will support Adnoc in expanding its operations and achieving its production goals," stated Girish.
Weatherford had in November last year clinched two five-year contracts from Adnoc with a combined value of more than $1 billion for downhole completions equipment and liner hanger systems.
With operations in approximately 75 countries, the company answers the challenges of the energy industry with its global talent network of 17,000 team members and 350 operating locations, including manufacturing, research and development, service, and training facilities, he stated.
"Our manufacturing facility in Abu Dhabi will further bolster its In-Country Value Program—an initiative Weatherford has supported since the beginning. We look forward to delivering successful outcomes to one of our long-time energy partners," he added.-TradeArabia News Service