| 5 December 2021, Sunday |

Adnoc to invest record $6bn in drilling as it boosts crude oil production capacity

Abu Dhabi National Oil Company (Adnoc) is investing $6 billion in drilling expansion as it aims to increase crude oil production capacity to 5 million barrels per day by 2030.

The investments take the form of procurement awards to top-tier contractors for wellheads and related components, downhole completion equipment and related services, and liner hangers and cementing accessories, all of which are essential in drilling for oil and gas and completing wells.

“Adnoc’s world record investments in drilling-related equipment demonstrate our commitment to responsibly unlocking our world-scale hydrocarbon resources and expanding our production capacity to continue providing the world with some of the least carbon-intensive barrels for decades to come,” said Dr Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Adnoc managing director and group chief executive.