Weatherford Awarded Over $1 Billion in Downhole Completion and Liner Hanger Contracts by Abu Dhabi National Oil Company
HOUSTON, November 16, 2021 – Weatherford International plc (NASDAQ: WFRD) (“Weatherford” or the “Company”) today announced that it was awarded two five-year contracts with Abu Dhabi National Oil Company (“ADNOC”) with a combined value of more than USD 1 billion for downhole completions equipment and liner hanger systems.
Girish Saligram, President and Chief Executive Officer, commented, “These drilling-related awards demonstrate our differentiated ability and commitment to support ADNOC in achieving its 2030 goal of expanding production capacity to 5mmbpd. Our field-proven portfolio and capabilities in well construction will enable ADNOC to minimize costs, reduce risks, and optimize production. The Downhole Completions contract is amongst the world’s largest in this category and we are proud to participate in it. Our UAE manufacturing facility in Abu Dhabi will produce the majority of products delivered in both contracts and further demonstrate our commitment to the UAE In-Country Value (ICV) program while also delivering global competitiveness.”
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Weatherford is a leading global energy services company. Operating in approximately 75 countries, the Company answers the challenges of the energy industry with its global talent network of approximately 17,000 team members and approximately 350 operating locations, including manufacturing, research and development, service, and training facilities.
Director Global Communications