ADNOC Drilling, SLB, and Patterson-UTI have formed a joint venture called Turnwell Industries to accelerate a 144-well unconventional oil and gas drilling campaign in Abu Dhabi. Set for completion by the fourth quarter of 2025, ADNOC Drilling holds a 55% majority stake, with SLB owning 30% and Patterson-UTI holding the remaining 15%. The venture is tasked with executing a $1.7 billion contract awarded to ADNOC Drilling to provide comprehensive drilling and associated services. SLB will contribute advanced drilling, stimulation, completion services, and project management expertise, ensuring efficiency and safety.
Turnwell will utilize innovative technologies, such as batch drilling and Measurement While Drilling (MWD), provided by Gordon Technologies, to reduce drilling time and costs. This joint venture is seen as a strategic move to unlock the UAE’s vast unconventional energy resources, positioning the country as a leader in unconventional oil and gas production. The project is expected to boost ADNOC Drilling’s 2025 earnings while paving the way for potential future phases of thousands of additional wells.
