Adnoc Drilling Company PJSC, in collaboration with SLB and Patterson-UTI, has established the Turnwell joint venture to accelerate its unconventional oil and gas well program. The venture, which holds a 55 percent majority equity stake for Adnoc Drilling, will focus on the UAE’s world-class unconventional energy resources. With the successful delivery of the first wells in the campaign, Adnoc Drilling has decided to speed up the completion timeline, benefiting its 2025 earnings and long-term growth potential. The collaboration with SLB and Patterson-UTI will help in executing a $1.7 billion contract to provide drilling and associated services for 144 unconventional oil and gas wells.
Abdulrahman Abdulla Al Seiari, CEO of Adnoc Drilling, expressed his excitement about the acceleration of the well program, highlighting the collaboration with key partners and the potential for setting new benchmarks in the global energy industry. SLB, as part of the joint venture, will provide integrated drilling, stimulation, completion services, project management, digital capabilities, and subsurface support. Tarek Rizk, SLB’s president for the Middle East and North Africa region, emphasized the company’s commitment to deploying innovative technologies in developing unconventional energy resources in the UAE.
As a global leader in the oil and gas industry, SLB operates in over 100 countries and focuses on innovating oil and gas, delivering digital solutions, and developing new energy systems to accelerate the energy transition. Adnoc Drilling, listed on the Abu Dhabi Securities Exchange, is the largest drilling and integrated drilling services company in the Middle East, owning and operating one of the largest multi-discipline drilling fleets worldwide. By incorporating IDS into its portfolio, Adnoc Drilling offers a total solution of start-to-finish wells and associated services, playing a critical role in Adnoc’s upstream business and its production capacity targets to meet the increasing global demand for energy.
The creation of the Turnwell joint venture and the acceleration of the unconventional well program mark a significant milestone for Adnoc Drilling and its partners. The venture aims to unlock the potential of the UAE’s unconventional energy resources while setting new industry standards for innovation and collaboration. With a focus on responsible energy production and sustainability, the joint venture is poised to lead the way in shaping the future of energy in the UAE and beyond. The collaboration between Adnoc Drilling, SLB, and Patterson-UTI signifies a strategic partnership that leverages technology and expertise to drive the development of unconventional energy assets in a safe and sustainable manner.
With a strong commitment to excellence and innovation, Adnoc Drilling, SLB, and Patterson-UTI are poised to make a significant impact on the global energy industry through the Turnwell joint venture. By leveraging their collective expertise and resources, the companies aim to accelerate the development of unconventional energy resources in the UAE, paving the way for sustainable growth and long-term success. The joint venture’s focus on integrating digital technologies, project management, and subsurface support underscores its commitment to driving innovation and efficiency in the drilling and completion services sector. As the energy transition continues to reshape the industry, partnerships like Turnwell are essential for driving progress and unlocking new opportunities for sustainable energy development.
