Weatherford Secures Three-Year Contract with ADNOC
Weatherford International (NASDAQ: WFRD) has secured a three-year contract from ADNOC for rigless services to reactivate onshore strings. The project, starting in Q4 2024, will involve deploying multiple intervention solutions to enhance operational efficiency of ADNOC's onshore assets. Weatherford will implement technologies focused on wellbore integrity, reactivation processes, and reservoir performance optimization. The company's rigless services are designed to revitalize inactive wells while minimizing environmental impact through efficient and cost-effective solutions.
Weatherford International (NASDAQ: WFRD) ha ottenuto un contratto triennale da ADNOC per servizi senza piattaforma per riattivare i pozzi onshore. Il progetto, che avrà inizio nel quarto trimestre del 2024, prevederà l'impiego di molteplici soluzioni di intervento per migliorare l'efficienza operativa degli asset onshore di ADNOC. Weatherford implementerà tecnologie focalizzate sull'integrità del foro di perforazione, sui processi di riattivazione e sull'ottimizzazione delle prestazioni del serbatoio. I servizi senza piattaforma della compagnia sono progettati per rivitalizzare pozzi inattivi, riducendo al contempo l'impatto ambientale grazie a soluzioni efficienti e convenienti.
Weatherford International (NASDAQ: WFRD) ha obtenido un contrato de tres años de ADNOC para servicios sin plataforma para reactivar pozos en tierra. El proyecto, que comenzará en el cuarto trimestre de 2024, implicará la implementación de múltiples soluciones de intervención para mejorar la eficiencia operativa de los activos en tierra de ADNOC. Weatherford implementará tecnologías centradas en la integridad del pozo, los procesos de reactivación y la optimización del rendimiento del reservorio. Los servicios sin plataforma de la empresa están diseñados para revitalizar pozos inactivos mientras se minimiza el impacto ambiental a través de soluciones eficientes y rentables.
Weatherford International (NASDAQ: WFRD)는 ADNOC로부터 육상 유정 재활성을 위한 3년 계약을 체결했습니다. 2024년 4분기에 시작될 이 프로젝트는 ADNOC의 육상 자산의 운영 효율성을 향상시키기 위해 여러 가지 개입 솔루션을 배치하는 작업을 포함합니다. Weatherford는 우물의 안전성을 보장하고 재활성화 프로세스 및 저수지 성능 최적화에 중점을 둔 기술을 구현할 것입니다. 이 회사의 무기 플랫폼 서비스는 비활성 유정을 활성화하도록 설계되었으며, 효율적이고 비용 효과적인 솔루션을 통해 환경 영향을 최소화하고자 합니다.
Weatherford International (NASDAQ: WFRD) a obtenu un contrat de trois ans d'ADNOC pour des services sans plateforme afin de réactiver des puits terrestres. Le projet, qui commencera au quatrième trimestre 2024, impliquera le déploiement de multiples solutions d'intervention pour améliorer l'efficacité opérationnelle des actifs terrestres d'ADNOC. Weatherford mettra en œuvre des technologies axées sur l'intégrité du puits, les processus de réactivation et l'optimisation des performances des réservoirs. Les services sans plateforme de l'entreprise sont conçus pour revitaliser des puits inactifs tout en minimisant l'impact environnemental grâce à des solutions efficaces et rentables.
Weatherford International (NASDAQ: WFRD) hat einen drei Jahre umfassenden Vertrag mit ADNOC für rigless Dienstleistungen zur Reaktivierung von Onshore-Bohrungen gesichert. Das Projekt, das im vierten Quartal 2024 beginnt, umfasst den Einsatz mehrerer Interventionstechnologien zur Verbesserung der Betriebseffizienz der Onshore-Ressourcen von ADNOC. Weatherford wird Technologien umsetzen, die sich auf die Integrität des Bohrlochs, Reaktivierungsprozesse und die Optimierung der Reservoirleistungen konzentrieren. Die rigless Dienstleistungen des Unternehmens sind darauf ausgelegt, inaktive Brunnen zu revitalisieren und dabei die Umweltbelastung durch effiziente und kostengünstige Lösungen zu minimieren.
- Secured new three-year contract with major oil company ADNOC
- Project implementation begins Q4 2024, providing near-term revenue visibility
- Contract strengthens market position in Middle East region
- None.
Insights
This major contract win with ADNOC represents a significant strategic advancement for Weatherford in the Middle East market. The three-year rigless services agreement will contribute meaningfully to the company's revenue stream and backlog starting Q4 2024. ADNOC's onshore assets represent one of the largest operational portfolios in the region, making this a prestigious and valuable contract.
The scope encompasses critical well intervention and reactivation services that typically command higher margins compared to basic oilfield services. Weatherford's advanced technological capabilities in rigless operations position them to potentially secure additional work as ADNOC continues its expansion plans. The focus on operational efficiency and sustainability aligns with industry trends toward optimized production and reduced environmental impact.
HOUSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it has been awarded a three-year contract for the provision of rigless services as part of the reactivation of ADNOC onshore strings. The project is slated to begin in the fourth quarter of 2024, where Weatherford is expected to deploy multiple intervention solutions, advancing the operational efficiency and reliability of ADNOC’s onshore assets.
The contract leverages Weatherford’s expertise in providing comprehensive rigless services, enabling ADNOC to maximize well productivity while minimizing downtime and operational risks. Weatherford will deploy a suite of technologies designed to enhance wellbore integrity, streamline reactivation processes, and optimize reservoir performance, reinforcing the Company’s commitment to delivering advanced, sustainable solutions in the energy sector. Weatherford’s rigless services are recognized for their efficiency, safety, and cost-effectiveness, making them ideal for revitalizing inactive wells while reducing environmental impact.
Girish Saligram, President and Chief Executive Officer of Weatherford, commented, “We are honored to partner with ADNOC on this significant project, which marks another milestone in our shared commitment to driving value and operational excellence through innovation. With our suite of cutting-edge technologies and expert teams, we look forward to supporting ADNOC’s reactivation goals and furthering our mission to provide agile, reliable solutions to our customers globally.”
About Weatherford
Weatherford delivers innovative energy services that integrate proven technologies with advanced digitalization to create sustainable offerings for maximized value and return on investment. Our world-class experts partner with customers to optimize their resources and realize the full potential of their assets. Operators choose us for strategic solutions that add efficiency, flexibility, and responsibility to any energy operation. The Company conducts business in approximately 75 countries and has approximately 19,000 team members representing more than 110 nationalities and 330 operating locations. Visit weatherford.com for more information and connect with us on social media.
For Media:
Kelley Hughes
Corporate Communications
Media@weatherford.com
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