ADNOC Drilling / Alpha Dhabi JV (Enersol) Acquires 25% Stake in Gordon Technologies
January 9, 2024
ADNOC Drilling and Alpha Dhabi have incorporated a joint venture (Enersol) at Abu Dhabi Global Market and completed the JV's inaugural strategic investment by transferring Alpha Dhabi’s 25% equity stake in US-based Gordon Technologies into the JV (valued at roughly $180 million). The move gives the JV an equity position in a leading measurement-while-drilling (MWD) technology provider and is intended to accelerate capability expansion in tech-enabled energy services and optimise drilling operations for ADNOC Drilling.
- Buyers
- Enersol (ADNOC Drilling and Alpha Dhabi joint venture), ADNOC Drilling Company PJSC, Alpha Dhabi Holding PJSC
- Targets
- Gordon Technologies
- Sellers
- Alpha Dhabi Holding PJSC
- Industry
- Energy
- Location
- Louisiana, United States
- Transaction Type
- Divestiture
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