ADNOC Drilling, SLB and Patterson-UTI have created a joint venture dubbed Turnwell Industries to accelerate the 144-well drilling campaign as part of unconventional oil and gas exploration program in Abu Dhabi, set for delivery by the fourth quarter of 2025.
Focused on the United Arab Emirate’s world-class unconventional energy resources, post completion of the JV, ADNOC Drilling through its wholly owned subsidiary ADH RSC LTD will hold a 55% majority equity stake, SLB a 30% equity stake and Patterson-UTI the remaining 15% equity stake.
Turnwell was established to be the unconventionals drilling arm of ADNOC Drilling and execute a $1.7 billion contract, awarded to ADNOC Drilling, to provide drilling and associated services to deliver 144 unconventional oil and gas wells.
SLB will provide integrated drilling, stimulation and completion services, as well as project management, digital capabilities and subsurface support as part of the venture.
The economic impact of the acceleration will benefit ADNOC Drilling’s 2025 earnings as well as its long-term growth through the potential acceleration of phase two with thousands of wells.
“Today marks a defining moment for Turnwell and our key partners SLB, and Patterson UTI. The acceleration of the well program, is a testament to the innovation, collaboration, and pursuit of excellence that will define our joint venture.
“Turnwell will not only unlock the immense potential of the UAE's world-class unconventional energy resources but will also set new benchmarks for the global energy industry. We are proud to lead the way in responsibly shaping the future of energy, both in the UAE and beyond,” said Abdulrahman Abdulla Al Seiari, Chief Executive Officer, ADNOC Drilling.
To achieve this accelerated timeline, Turnwell has adopted batch drilling, a method that improves efficiency and reduces costs.
Additionally, Gordon Technologies, a market-leading provider of Measurement While Drilling (MWD) technology and an Enersol company, will support the delivery of these wells. MWD technology reduces drilling time, improves well-bore quality, and increases overall drilling efficiency.
Enersol, a technology-focused investment JV between ADNOC Drilling and Alpha Dhabi Holdings, acquired a 67.2% stake in Gordon Technologies.
"We are proud to join forces with ADNOC Drilling in this strategic partnership that demonstrates SLB’s leading position in the region deploying innovative digital, drilling and completion technologies in developing unconventional energy resources.
“UAE’s unconventional energy assets hold a promising future, and we are very much looking forward to elevating their performance in a safe and sustainable way,” said Tarek Rizk, SLB’s president for the Middle East and North Africa region.