ADNOC Drilling secures $313.6m offshore rig contracts in Kuwait

10/11/2026 06:16 AST

ADNOC Drilling has secured approval for two offshore jack-up rig contracts in Kuwait with a combined maximum value of KWD 96.55 million ($313.6 million), marking its entry into the Kuwaiti offshore market and its first offshore operations outside the UAE.

Kuwait Petroleum Corporation's Higher Procurement Committee approved the awards for Rig 1 and Rig 2 under a tender issued by Kuwait Oil Company (KOC), covering the provision and operation of two high-specification offshore rigs.

The contracts include a four-year firm term, including mobilisation, with an additional one-year extension option. Operations are expected to begin in the fourth quarter of 2027.

The awards support ADNOC Drilling's regional expansion strategy under its Drill-to-Operate model, which focuses on strategic partnerships and accessing new markets and revenue streams.

The contracts are expected to make their first full-year financial contribution in 2028, while the anticipated 2027 contribution is already reflected in the company's preliminary 2027 guidance.

Abdulla Al Messabi, ADNOC Drilling CEO, said: "This award marks ADNOC Drilling's entry into offshore Kuwait and an important step forward in our international growth journey. We are proud to have been selected by Kuwait Oil Company and look forward to bringing our offshore expertise, disciplined execution and commitment to safe and reliable operations to this important market."

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