ADNOC Drilling Co., SLB and Patterson-UTI have formed joint venture Turnwell Industries LLC OPC to drill for unconventional oil and gas in the United Arab Emirates. (Source: Shutterstock)
ADNOC Drilling Co., SLB and Patterson-UTI have formed a joint venture (JV), Turnwell Industries LLC OPC, to accelerate the United Arab Emirates’ unconventional oil and gas platform, the companies announced on Sept. 30.
The JV has been awarded a contract to drill and complete 144 unconventional wells for ADNOC by the end of 2025, allowing the three companies to leverage their innovations in AI, smart drilling design, completions engineering and production solutions.
As part of the Turnwell joint venture, SLB will provide integrated drilling and stimulation and completion services, as well as project management, digital capabilities and subsurface support. Patterson-UTI will provide unconventional drilling and completion expertise, as well as a limited cash contribution to fund working capital.
ADNOC Drilling, through its wholly-owned subsidiary ADH RSC Ltd., will hold a 55% majority equity stake. SLB will hold a 30% stake and Patterson-UTI will hold the remaining 15% stake.
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