ADNOC Drilling has secured a contract valued at up to $800 million by ADNOC Onshore for the provision of integrated hydraulic fracturing services for conventional and tight reservoirs, the UAE-based company announced Monday.
This means markets are entering a second year where investments are to remain somewhat flat, and this is now starting to impact not only short-cycle budgets but also longer-cycle budgets, such as offshore and midstream, putting a toll on all service market categories.