ADNOC Drilling Completes JV Agreement for UAE Well Program

ADNOC Drilling Company PJSC has completed the agreement to create Turnwell Industries LLC OPC, a joint venture (JV) with SLB and Patterson-UTI TW Holdings LLC.

The JV will focus on fast-tracking the United Arab Emirates’ (UAE’s) unconventional oil and gas program, with an initial 144 wells scheduled for completion by the end of 2025. Turnwell is also exploring the significant potential for future opportunities in unconventional energy resources in the UAE, ADNOC Drilling said in a news release.

ADNOC Drilling holds a 55 percent majority equity stake. Global oilfield services provider SLB holds a 30 percent equity stake and Patterson-UTI, a provider of drilling and completions services in the USA, holds the remaining 15 percent equity stake.

Turnwell has successfully delivered its fastest well time so far, in their 144-well drilling campaign of a record 19.9 days, with an expectation for further significant efficiency gains. On the initial wells they achieved a 13 percent improvement in well delivery time compared to the previous record and a 53 percent reduction in well delivery over the four wells in the pad, according to the release. The JV used advanced measurement while drilling technology, advanced drill bit designs, and new generation rotary steerable systems, to reduce costs and time.

Turnwell will leverage cutting-edge innovations in artificial intelligence (AI) smart drilling design, completions engineering, and production solutions to responsibly deliver and secure the UAE’s unconventional energy needs and resources. Turnwell also benefits from a direct relationship with Enersol, ADNOC Drilling’s JV with Alpha Dhabi, according to the release.

Abdulrahman Abdulla Al Seiari, ADNOC Drilling CEO, said, “Closing the Turnwell JV with SLB and Patterson-UTI advances our plans to unlock the UAE’s world-class unconventional energy resources, reinforcing the UAE’s position as a global leader in the responsible supply of energy”.

“This joint venture is a groundbreaking achievement and is already paying dividends through the significant reduction in well delivery time as seen through the first wells being delivered in record time,” he added.

Abu Dhabi holds an estimated 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas in place. The recovery of these resources will require many thousands of wells to be delivered, over and above the initial 144 wells, according to the release.

The JV will allow the three companies to “leverage leading innovations in AI [artificial intelligence], smart drilling design, completions engineering and production solutions,” SLB said in an earlier news releasw.

DWS Acquisition

Last month, the Enersol JV agreed to acquire a 95 percent equity stake in Deep Well Services (DWS) for approximately $223 million, including performance-based payments

Established in the USA in 2008, DWS specializes in several advanced technologies and services within the energy sector. Its hydraulic completion units (HCU) are designed for high-pressure, long lateral, and multi-well completion operations, enabled by its data analytics software, BoreSite and its training and development, which offers globally accredited programs that enhance operational safety and efficiency.

DWS works in numerous basins across North America and its services have been adopted by over 70 E&P companies ranging from small-private operators to large-cap national energy companies, according to a separate news release.

Enersol companies will support the delivery of ADNOC Drilling’s recent $1.7 billion contract award to deliver 144 unconventional wells to ADNOC Group.

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