ABU DHABI, UAE: ADNOC Drilling Company and Alpha Dhabi Holding have formed a joint venture (JV) to pursue global investments in energy technology and services.

The JV, incorporated at Abu Dhabi Global Market, has made its first investment in Gordon Technologies, a US-based provider of measurement while drilling (MWD) technology, valued at $180 million.

The JV, which is 51% owned by ADNOC Drilling and 49% by Alpha Dhabi, aims to enhance market value and operational efficiencies by acquiring and investing in tech-enabled oilfield services solutions. The JV will also support the UAE’s energy transition and economic diversification goals.

Abdulrahman Abdullah Al Seiari, Chief Executive Officer of ADNOC Drilling, said: “Through the incorporation of our Joint Venture we are set to accelerate investment in techenabled energy solutions. Access to these technologies will support us in our operations, and to accelerate well delivery optimization in the development of unconventional resources as we strive to enable gas self-sufficiency for the nation.”

Eng. Hamad Al Ameri, Managing Director and Group CEO of Alpha Dhabi, added: “Since Alpha Dhabi’s minority stake acquisition of Gordon Technologies in 2022, we have supported its growth strategy in the US market and put the foundations in place for expansion to the Middle East region.

Through this joint venture, and leveraging both Alpha Dhabi and ADNOC Drilling’s complimentary capabilities, we look forward to driving further value creation for the benefit of our mutual stakeholders.”

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