Page 13 - MEOG Week 29 2021
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MEOG PROJECTS & COMPANIES MEOG
ADNOC plans investment drive
to reach production target
UAE UAE’S Abu Dhabi National Oil Co. (ADNOC) ($153.9mn) to complete the work.
plans to invest $763.7mn to expand the compa- The scope of the contracts includes coiled
ny’s oil production capacity from 4mn barrels tubing services with through-tubing downhole
per day (bpd) to 5mn bpd by 2030. tools, stimulation services, including equipment
The spending will go toward its integrated and chemicals/fluid systems, surface well testing
rigless services across six of its artificial islands services, wireline, and production logging ser-
in the Upper Zakum and Satah Al Razboot fields. vices and tools, saturation monitoring and well
The six artificial islands covered by the awards integrity.
are Asseifiya, Ettouk, Al Ghallan, and Umm Al In an official statement, ADNOC Offshore
Anbar in the Upper Zakum field and Al Qatia CEO Ahmad al-Suwaidi said: “These contracts
and Bu Sikeen in the SARB field. are an important contributor to [our] plans to
Artificial islands provide significant cost build our production capacity to over 2mn
and environmental benefits, particularly in bpd in the coming years to support the Adnoc
shallow water, by enabling the use of lower-cost Group’s smart growth strategy.”
land-drilling rigs instead of higher-cost offshore ADNOC maintains a strategic focus of
jack-up drilling rigs. reaching 1mn bpd of capacity at Upper Zakum
Most of the contracts were awarded by by 2024 while work on the Lower Zakum, Umm
ADNOC Offshore to Schlumberger ($381.2mn), Shaif and Nasr fields is expected to add a further
ADNOC Drilling ($228.7mn) and Halliburton 210,000 bpd of capacity.
Week 29 21•July•2021 www. NEWSBASE .com P13
