ADNOC Drilling, SLB, And Patterson-UTI Complete Turnwell Joint Venture To Boost UAE Energy Resources

ADNOC Drilling Company has finalised the joint venture with Turnwell Industries LLC OPC, SLB, and Patterson-UTI TW Holdings LLC. This collaboration aims to enhance the UAE's unconventional energy resources. Abdulrahman Abdulla Al Seiari, CEO of ADNOC Drilling, stated that this partnership strengthens the UAE's global energy leadership. "Closing the Turnwell JV with SLB and Patterson-UTI advances our plans to unlock the UAE’s world-class unconventional energy resources, reinforcing the UAE’s position as a global leader in the responsible supply of energy," he said.

The joint venture is structured with ADNOC Drilling holding a 55% majority stake. SLB, a major oilfield services provider, owns 30%, while Patterson-UTI holds 15%. This partnership is expected to drive significant advancements in unconventional energy exploration in the UAE. The collaboration has already shown success by reducing well delivery times significantly.

Earlier this year, Turnwell announced it would accelerate its initial drilling of 144 unconventional wells. This decision followed a successful operational start-up supported by ADNOC Drilling, SLB, and Patterson-UTI. The company is also investigating future opportunities in unconventional energy within the UAE.

Turnwell achieved remarkable efficiency in its drilling campaign by delivering wells faster than ever before. The fastest well was completed in just 19.9 days during their 144-well campaign. They expect further improvements in efficiency as operations continue.

Turnwell has utilised advanced technologies like measurement while drilling and new rotary steerable systems to cut costs and time. These innovations have led to a 13% improvement in well delivery time compared to previous records and a 53% reduction over four wells on one pad.

The company's strategy focuses on delivering low-cost wells efficiently. This approach aligns with their goal of achieving substantial cost reductions while maintaining high operational standards.

Future Prospects for Unconventional Resources

Abu Dhabi is estimated to have around 220 billion barrels of unconventional oil and 460 trillion cubic feet of unconventional gas available. Extracting these resources will require thousands more wells beyond the initial 144 planned by Turnwell.

To meet these demands responsibly, Turnwell plans to use AI-driven smart drilling designs and advanced production solutions. These efforts aim to secure the UAE's unconventional energy needs effectively.

Additionally, Turnwell benefits from its connection with ADNOC Drilling’s joint venture with Alpha Dhabi, Enersol. This relationship involves investing in innovative energy service technologies that enhance operational efficiency through strategic acquisitions.

This joint venture marks a significant step towards unlocking vast unconventional energy reserves in Abu Dhabi. By leveraging cutting-edge technology and strategic partnerships, Turnwell aims to meet future energy demands sustainably and efficiently.

With inputs from WAM