ADNOC awards $1.17bn contract for jack-up barges

RIYADH: The Abu Dhabi National Oil Co. has signed a contract worth 4.3 billion dirhams ($1.17 billion) to hire 13 self-propelled jack-up barges. 

The move aims to boost the company’s offshore operational efficiencies and support the expansion of its crude oil production capacity to 5 million barrels per day by 2030, Trade Arabia reported. 

The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics and Services and underpins the world-class capabilities within ADNOC group’s companies, it said.