{
  "id": 19289476,
  "title": "Abu Dhabi's Adnoc Drilling wins contracts worth $314m from Kuwait Oil Company",
  "url": "https://urgent.news/2026/11/10/abu-dhabis-adnoc-drilling-wins-contracts-worth-314m-from-kuwait-oil",
  "topic": "culture",
  "section": "Culture",
  "published": "2026-11-10T05:32:43.000Z",
  "source": {
    "name": "The National UAE",
    "slug": "the-national-uae",
    "url": "https://www.thenationalnews.com/business/energy/2026/11/10/abu-dhabis-adnoc-drilling-wins-contracts-worth-314m-from-kuwait-oil-company/"
  },
  "original_language": "en",
  "account": "The Abu Dhabi-based Adnoc Drilling secured two contracts worth up to $314 million from Kuwait Oil Company. The deals will see the UAE firm provide and operate offshore jack-up rigs in Kuwait's waters - its first offshore operations outside of the UAE. The contracts, awarded by Kuwait Petroleum Corporation's Higher Procurement Committee, run for four years, with an option to extend by a further year. Adnoc Drilling will use one of its own rigs, while chartering a second. Operations are slated to commence in the fourth quarter of 2027.\n\nAdnoc Drilling CEO Abdulla Al Messabi hailed the award as a significant milestone in the company's international growth strategy. The company aims to expand into markets such as Syria and is exploring potential deals to bolster its gas drilling business. Last year, Adnoc Drilling made strategic investments, acquiring an 80% stake in Oman's MB Petroleum Services and a 70% stake in SLB's land drilling rigs business in Kuwait and Oman.\n\nThe contracts are expected to contribute to Adnoc Drilling's first full-year earnings in 2028. The company sees these contracts as a testament to its expertise in complex offshore operations and aligns with its \"Drill-to-Operate\" strategy, which emphasizes strategic partnerships and new revenue streams for long-term growth. Kuwait is actively seeking international oil companies to assist in developing its offshore discoveries, with a goal to increase production capacity to four million barrels per day by 2035.",
  "summary": "Kuwait Oil Company has awarded two contracts to Adnoc Drilling with an aggregate value of up to 96.5 million Kuwaiti dinars ($314 million), with the UAE company to provide and operate offshore jack-up rigs. The award marks Adnoc Drilling's entry into offshore Kuwait and will be its first offshore rig operations outside the UAE, the company said in a statement on Tuesday. Approved by Kuwait…",
  "key_points": [
    "Adnoc Drilling secures $314m contracts from Kuwait Oil Company.",
    "Contracts for offshore jack-up rigs in Kuwait's waters, first outside UAE.",
    "Operations start Q4 2027, option to extend by a year."
  ],
  "editors_take": "Expanding into Kuwaiti offshore waters marks a pivotal shift for the firm as it transitions from a domestic provider to a regional player pursuing international growth through strategic partnerships.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}