ADNOC Drilling today, Tuesday, December 17 announced the end of its partnership with Turnwell Industries LLC OPC (Turnwell). The partnership, which was formed jointly with SLB and Patterson-UTI TW Holdings LLC, was launched to exploit unconventional energy resources in the United Arab Emirates.
Publish dateTuesday 17 December 2024 - 23:02
According to Amac News: The CEO of ADNOC Drilling said that the partnership has contributed to their plans to exploit unconventional energy resources of world quality.
He also noted that the partnership has yielded positive results in reducing well delivery times. According to him, Turnwell has been able to set a new record for well delivery times in its drilling campaign of 144 wells.
This year, Turnwell announced the acceleration of its drilling of 144 unconventional wells, benefiting from the resources and expertise of ADNOC Drilling, SLB and Patterson-UTI.
The partnership is led by ADNOC Drilling with a 55% majority stake, SLB with a 30% stake and Patterson-UTI with a 15% stake.
Turnwell recently achieved the fastest well completion time of 19.9 days, a 13% improvement over the previous record.
The company has used advanced drilling technologies and innovative drill designs to reduce costs and time.
The UAE is estimated to have 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas. Thousands of additional wells will need to be drilled to tap these resources.
Turnwell will also leverage advanced innovations in smart drilling design and production solutions to meet the UAE’s unconventional energy needs.
He also noted that the partnership has yielded positive results in reducing well delivery times. According to him, Turnwell has been able to set a new record for well delivery times in its drilling campaign of 144 wells.
This year, Turnwell announced the acceleration of its drilling of 144 unconventional wells, benefiting from the resources and expertise of ADNOC Drilling, SLB and Patterson-UTI.
The partnership is led by ADNOC Drilling with a 55% majority stake, SLB with a 30% stake and Patterson-UTI with a 15% stake.
Turnwell recently achieved the fastest well completion time of 19.9 days, a 13% improvement over the previous record.
The company has used advanced drilling technologies and innovative drill designs to reduce costs and time.
The UAE is estimated to have 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas. Thousands of additional wells will need to be drilled to tap these resources.
Turnwell will also leverage advanced innovations in smart drilling design and production solutions to meet the UAE’s unconventional energy needs.
amacnews.com/vdci.zarct1ap3li2t.html
Source : news agency wam
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