Page 11 - MEOG Week 27

MEOG ProJeCtS & ComPAnIeS MEOG
ADNOC celebrates first oil from Haliba
uAe
THE Al Dhafra Petroleum joint venture (JV) this week announced the rst production of crude oil from its Haliba eld onshore Abu Dhabi, also noting that it had identi ed three resources in three new elds.
Al Dhafra is 60% owned by Abu Dhabi National Oil Co. (ADNOC), with the remainder held by South Korean rms Korea National Oil Co. (KNOC) and GS Energy.
Haliba is located in Area 1, around 150 km south of Abu Dhabi City close to ADNOC Onshore’s South East Asset (SEA).
In its o cial announcement, ADNOC said that an extensive appraisal programme had established that Haliba contains 1.1bn barrels of original oil in place (OOIP), up from the original estimate of 180mn.
e rst phase of development is anticipated to achieve output of 20,000 barrels per day (bpd) this year, ramping up to 40,000 bpd by 2020. During the Haliba announcement, HE Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, pointed to Haliba’s importance in allowing Abu Dhabi to reach its oil production target of 4mn bpd by the end of 2020.
Achieving rst oil follows the February 2018 award of the main EPC contract to India’s L&T, entailing 32 wells and the construction of a 65-km pipeline carrying crude to the existing central degassing station at ADNOC Onshore’s
Asab eld through a deal worth roughly $342mn. e eld is the rst to be developed from one of three disparate portions of acreage assigned in
2012 to Al-Dhafra.
Commercial bids for the package were sub-
mitted in early 2017, with L&T’s o er reported at the time to have been considerably lower than those from Italy’s Tecnimont and a team of CPECC with TechnipFMC.
However, contractors were reported to have had doubts about the work schedule at Haliba, while ADNOC Onshore has been working on separate plans for further development activity at Asab, a mature eld thought to be producing around 450,000 bpd.
ADNOC’s announcement of the Haliba award placed the development plan in the con- text of e orts to optimise production infrastruc- ture across the company’s assets – implicitly regardless of the di erent foreign shareholders.
Al-Dhafra’s formation in 2012 was an early manifestation of ADNOC’s desire to involve major Asian consumers in its upstream oper- ations, and the KNOC/GS pairing – known as Korean Abu Dhabi Oil Consortium (KADOC) – subsequently acquired a 3% stake in ADNOC Onshore in 2015.
e ADNOC statement said that Al Dhafra’s exploration programme had discovered “poten- tial resources” at the new elds of Al Humrah, Bu Tasah and Bu Nikhelah.™
PrICeS
Date
WTI (US$)
ICE Brent (US$)
DME Oman (US$)
OPEC Basket (US$)
2 July
56.34
64.20
61.20
63.95
3 July
57.44
63.82
62.55
62.69
4 July
--
63.30
--
63.43
5 July
57.59
64.23
63.15
63.55
8 July
57.76
64.11
63.06
64.72
Week 27 09•July•2019 w w w . N E W S B A S E . c o m P11