حفلة 2024

UAE’s ADNOC Drilling, Alpha Dhabi announce global alliance

ADNOC Drilling Company and Alpha Dhabi Holding declared on Tuesday the establishment of their strategic investment joint venture (JV) at Abu Dhabi Global Market.
The JV will seek out worldwide investments in energy technology and strengthen tech-enabled services.
For their first investment, Alpha Dhabi has invested its 25 per cent equity share, valued at approximately $180 million, in Gordon Technologies, a top U.S. company for measurement and drilling technology in the oil and gas sector.
The JV’s formation will yield profitable returns for both shareholders and synergise with ADNOC Drilling’s operations, enhancing it’s long-term dividend growth.
“Through the incorporation of our joint venture, we are set to accelerate investment in tech-enabled energy solutions,” stated the Chief Executive Officer of ADNOC Drilling, Abdulrahman Abdullah Al Seiari.
“Access to these technologies will support us in our operations and accelerate well delivery optimisation in the development of unconventional resources as we strive to enable gas self-sufficiency for the nation.” Al Seiari added.
The JV plans to acquire and invest in firms that provide tech-enabled oilfield services, pending necessary regulatory approvals.
It aims to create a scalable ecosystem to increase market value and improve operational efficiency. It will also influence investment decisions significantly and support the UAE’s broader energy transition goals, net-zero agenda, and continuous economic diversification efforts.

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