The Abu Dhabi National Oil Company (ADNOC) announced in a statement regarding the Project award for “Procurement of casing and tubing”.
The contracts are awarded to following three companies:
- Consolidated Suppliers Establishment, representing Tenaris S.A., Luxembourg
- Abu Dhabi Oilfield Services Company, representing Vallourec S.A., France
- Habshan Trading Company, representing Marubeni Corporation, Japan
The combined contract value is AED13.2 billion (US$3.6 billion).
The combined scope of the three contracts awarded is one of the world’s largest in this category, maximising value for ADNOC across its drilling value chain and underpinning its strategy to deliver a more profitable upstream business.
Under the terms of the contracts, the three companies will supply a combined total of one million metric tons of casing and tubing.
The combined scope of the awards is based on the forecasted requirement for casing and tubing across the ADNOC Group.
The awards complement ADNOC’s substantial upstream growth plans and drive to deliver integrated drilling services as it plans to increase its conventional drilling by 40 percent by 2025 and substantially ramp up the number of its unconventional wells.
The award was a part of its target to achieve 4 million barrels of oil production capacity per day (mmbpd) by the end of 2020 and five mmbpd by 2030
