Page 13 - MEOG Week 34 2022

MEOG NEWS IN BRIEF MEOG

COMPANIES has grown in size, stature and capability. Our of the 2nd and 3rd phases of South Pars with
position today, as owner and operator of one a capacity of 60,000 barrels per day, as well
ADNOC Drilling acquires of the largest offshore jack-up fleets in the as beginning the construction of the new
32-inch sour gas pipeline of phase 16 of South
world is testament to the expertise of our
additional premium jack-up people and the visionary leadership of the Pars gas field.
In response to a question about the
UAE.”
rig in October 2021, ADNOC Drilling has decision to develop the Arash field, the NIOC
Following its initial public offering
CEO said: “The Company is fully prepared to
ADNOC Drilling has announced the signing demonstrated strong and resilient growth. In start drilling in the Arash field, and as soon
of a sale and purchase agreement to acquire the first half of 2022 the Company delivered as the conditions are determined and the
an additional premium offshore jack-up revenue of $1.27 billion, a 13% increase year- work procedures begin, drilling operation
drilling unit for $70 million. The cost of the on-year, with $379 million in net income – a will begin, and NIOC has a complete plan
acquisition is part of the Company’s three- 34% increase. to develop the oil and gas sector of this field
year guidance on capital expenditure and ADNOC DRILLING that has been approved by the NIOC board
strategic plans to expand its existing business. of directors.” Regarding gas imports from
The sale and purchase agreement is the Russia, Khojstehmehr said: “In general, Iran’s
third signed by the Company in recent OIL position on this issue is gas trade, and due to
months, with an agreement for two premium its geographical location, the Islamic Republic
drilling units signed on 30 May, and another Iran envisages oil output of is ready to swap gas to destinations that the
for one premium drilling unit signed on 10 gas supplier considers.”
June. All four premium offshore drilling units 4mn bpd by early 2023 Asked about Iran’s current crude oil output
are expected to join the Company’s fleet by and the plan to increase production capacity
year-end, bringing ADNOC Drilling’s total The CEO of the National Iranian Oil Co. if the JCPOA comes to a conclusion, he said:
offshore jack-up fleet to 28 operational units, (NIOC) voiced Iran’s readiness for maximum “As previously announced, the oil production
one of the largest operating fleets in the world. gas condensate swap, adding the country is capacity of the National Iranian Oil Company
The acquisition further cements ADNOC preparing to bring its crude oil production by the end last calendar year was 3.838mn bpd
Drilling’s position as the largest owner and capacity to over 4 million barrels per day by and according to the planning, Iran’s crude oil
operator of rigs in the Middle East. the end of the current calendar year, which production capacity will exceed 4mn bpd by
ADNOC Drilling’s amplified rig began on March 21. the end of 1401.”
acquisition programme is central to its Speaking in Kish Island on Monday, SHANA
strategic plan to substantially grow its Mohsen Khojastehmehr told reporters that by
business, significantly enhancing Company the end of the current Iranian calendar year, Iran earmarks $5.5bn to
revenues and shareholder returns over the the oil production capacity of the country will
coming years. exceed 4 million barrels per day. develop Khami group fields
Abdulrahman Abdullah Al Seiari, Chief “This week, we will have executive
Executive Officer of ADNOC Drilling, operations to develop a number of joint oil The CEO of the National Iranian Oil
commented: “The acquisition of this and gas fields in Khuzestan province and the Company (NIOC) said the development
additional premium drilling unit is central Persian Gulf,” he said about the company’s of the fields of Khami Group were to be
to our bold growth strategy and the rig will projects during the Administration Week. developed with an investment of 5.5 billion
support us in delivering on our commitments He said the projects include development dollars for the first time.
to shareholders. of North Yaran, South Yaran, Balal and Sohrab Mohsen Khojastehmehr said on Tuesday
“Over the past 50 years, ADNOC Drilling fields, and launching of the sweetening unit at the unveiling ceremony of the new well

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