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SLB and ADNOC Drilling Establish Turnwell Industries LLC OPC for UAE's Unconventional Oil and Gas Program
Sep 30, 2024•over 1 year ago
Contract Type
partnership
Description
SLB and ADNOC Drilling have formed a joint venture, Turnwell Industries LLC OPC, along with Patterson-UTI, to accelerate UAE’s unconventional oil and gas program. The venture aims to complete an initial 144 wells by the end of 2025 and will focus on leveraging leading innovations in AI, smart drilling design, completions engineering, and production solutions.
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Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months