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MEOG PROJECTS & COMPANIES MEOG
ADNOC announces offshore gas find
UAE ABU Dhabi National Oil Co. (ADNOC) last was expanded in late 2020 from around 53,000
week announced the discovery of a significant square km to 82,000 square km, taking the total
gas deposit in the Offshore Block 2 concession, value of the contract to $2.12bn. The project is
which is operated by Italian firm Eni, following the world’s largest combined onshore and off-
its award in the second competitive bid round. shore 3D seismic survey.
Results from the first exploration well gave an ADNOC said that Eni and PTTEP’s “drilling
indicative resource size of 1.5-2 trillion cubic feet operations continue to reach deeper formations
(42.5-56.6bn cubic metres) of raw gas in place to fully unlock the resource volume in Offshore
and mark the second significant find reported in Block 2 and further explore the promising poten-
the last eight weeks, following the 1bn barrels of tial across the block as well as across Offshore
oil equivalent (boe) announced by Japan’s Inpex Blocks 1 and 3 exploration concession areas”.
at Onshore Block 4 in December.
Eni was awarded a 70% stake in the nine- Services contracts
year exploration phase for the 4,033-square km Following the announcement of the gas dis-
Offshore Block 2 in 2019, with Thailand’s state- covery, ADNOC’s onshore upstream arm
owned PTTEP holding the remainder. announced the award of several oilfield services
Following the exploration phase, the conces- contracts to support the parent firm’s capacity
sion could be extended for a 35-year develop- expansion.
ment and production phase, in which ADNOC ADNOC Onshore awarded well testing con-
has the customary option to take a 60% stake. tracts worth $169mn to NESR Energy Services,
The international partners were also awarded Al-Mansoori Production Services and Al Ahlia
Offshore Block 1 at the same time and commit- Oilfields Development Co., which will run for
ted to investing at least $230mn to explore and up to five years.
appraise Block 1 and appraise existing discover- “The services will apply best-in-class technol-
ies in Block 2. The pair were awarded Offshore ogy to optimise the performance of our onshore
Block 3 in December 2020. reservoirs, while minimising the environmental
In a company statement, ADNOC’s upstream impact of the process,” it said.
executive director, Yaser Saeed Almazrouei, said The awards follow the November announce-
the find highlighted “the continued success of ment that ADNOC would invest up to $6bn
ADNOC’s accelerated exploration and develop- in drilling equipment, making procurement
ment programme”. awards to contractors for well completion
He added that “both discoveries leveraged equipment, with local subsidiaries and agents of
insights from ADNOC’s ongoing 3D mega seis- Baker Hughes, Schlumberger, TechnipFMC and
mic survey”, alluding to an onshore and offshore Weatherford among the winners.
survey being carried out by China National The Emirati giant is working to expand oil
Petroleum Corp. (CNPC) geophysical special- production capacity from 4mn barrels per day
ist subsidiary BGP. The scope of the 3D survey to 5mn bpd by 2030.
Week 06 09•February•2022 www. NEWSBASE .com P9