Page 11 - MEOG Week 46

MEOG tenders MEOG
ADNOC awards EPC for Bab expansion
Uae
ABU Dhabi National Oil Co. (ADNOC) last week announced the award of a major engi- neering, procurement and construction (EPC) contract for the expansion of the onshore Bab oilfield, operated by the state firm’s ADNOC Onshore division.
Following the submission of bids in March, the $489mn deal was awarded to Greek contrac- tor Archirodon, which is believed to have beaten offers from CAT Group and Target Engineering, both local, fellow Greek-based Consolidated Contractors Co. (CCC) and China Petroleum Engineering & Construction Co. (CPECC).
In a press statement, ADNOC said that Archirodon would “build the facilities and infra- structure required to sustain long-term crude oil production capacity of the field at 485,000 barrels per day”. It added that the contract has a term of 39 months.
The work comprises around 35 apiece of new oil production and water injection wells, and gas lift facilities at a similar number of wells across multiple zones of the large field, 160 km south- west of Abu Dhabi City.
ADNOC added that the job would include
well-bays, let down stations, water injection clus- ters and other infrastructure required to sustain production capacity.
In late 2017, CPECC won the $1.5bn-plus EPC contract for the Bab Integrated Facilities project, which sought to increase production at Bab from around 420,000 bpd to 450,000 bpd by the end of 2020 and an extension of the life of the ageing field, on stream since 1958.
This larger project is believed to be running to schedule, with the scope of work including the expansion of integrated processing facilities at the Thamama-A, Thamama-B and Thamama-h production zones at habshan, Abu Dhabi. In July, ADNOC said that digital oilfield technology would be introduced to remotely monitor and analyse well performance.
With ADNOC saying that maximising In-Country Value was a key criterion, Abdul- munim Saif Al Kindy, executive director of ADNOC’s Upstream Directorate, said that the “competitive and rigorous tender process” had been carried out to ensure that more than “75% of the award value will flow into the UAE’s economy”.™
PrICes
Date
WTI (US$)
ICE Brent (US$)
DME Oman (US$)
OPEC Basket (US$)
12 November
56.85
62.06
62.98
62.82
13 November
57.20
62.37
63.30
62.48
14 November
56.88
62.28
63.05
63.00
15 November
57.83
63.30
63.65
63.12
18 November
57.14
62.29
62.90
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Week 46 20•November•2019 w w w . N E W S B A S E . c o m P11