Adnoc Drilling looks ahead to 2024 with confidence

Abdulrahman Al Seiari, Adnoc Drilling’s CEO, today said that the company will continue its strategic plans during 2024, with its plans for further fleet expansion, decarbonisation initiatives, its newly created joint venture (JV) with Alpha Dhabi, and regional expansion.

In a statement to the Emirates News Agency, Al Seiari said, “Adnoc Drilling is looking forward to 2024 with confidence and optimism. This year will be a landmark year. In line with our mandate to support Adnoc’s 5 million barrels per day capacity target, the continued growth of our fleet, which we expect to reach 142 operational rigs this year, is central to our future success.”

Ahead of announcing its 2023 full-year results on Feb.13, he said that following Adnoc Drilling’s transformation into an Integrated Drilling Services (IDS) provider in late 2018, the company managed to capture in just a few short years, a level of business growth that has taken other companies significantly longer to achieve.

“The expansion of fleet and IDS capabilities, however, are not the only avenues we’ve continued to improve as an organisation. For example, we recently formed a new joint venture with Alpha Dhabi, which will pursue global investments in energy technology and bolster tech-enabled energy services,” Al Seiari stated.

“Another key focus area will be international expansion beyond the borders of Abu Dhabi. “In 2023, we took our sphere and in the international sphere and aim to expand our presence even further this year. We will advance our strategy through a combination of further organic growth and the potential for regional acquisitions,” he added.