UAE’s NDC signs contracts for 14 new rigs

National Drilling Co. of the United Arab Emirates signed contracts for 14 new rigs for $543 million, the Emirates news agency WAM reported.

The Abu Dhabi-based company cited growing demand from clients and strategic expansion plans.

Twelve rigs will be supplied by China Building Technology Development Centre.

The other two rigs will be manufactured in the UAE at a cost of $203 million.  UAE-based Lamprell PLC will manufacture an offshore rig and National Oilwell Varco will build an onshore rig.

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