By Rami Sameeh

Abu Dhabi-Mubasher: National Drilling Co.'s projects and expansion plans are not impacted by falling oil prices, said CEO Abdullah Al Suwaidi.

On the sidelines of Middle East Drilling Technology Conference and Exhibition, held in Abu Dhabi, Al Suwaidi told Mubasher that his company is currently working to reduce costs and boost operation efficiency amid the current conditions of global oil markets.   

"We launched several expansion projects to fulfill the needs of the parent company Abu Dhabi National Oil Co. (ADNOC), including the manufacturing of nine marine dredgers in the UAE. We received six dredgers and the remaining three ones will be received over the next period," the CEO said.

He added that the expansions come in line with ADNOC's long-term strategy which takes into account all current and future information, and thus the company was not impacted by tumbling oil prices.

The company boosted its fleet of dredgers to 72 currently from 28 in 2009, in addition to leasing some dredgers to fulfil its short term needs.

Translated by Abdul Maguid Aboshahla