Page 10 - MEOG Week 21 2022
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MEOG                                   PROJECTS & COMPANIES                                            MEOG


       ADNOC announces onshore oil discoveries





        UAE              ABU Dhabi National Oil Co. (ADNOC) this  oil resources”.
                         week announced that 650mn barrels of oil have   The Bu Hasa discovery came a year to the
                         been discovered across three oilfields in the  week since ADNOC awarded $318mn of engi-
                         Emirate.                             neering, procurement and construction (EPC)
                           The finds were disclosed during an ADNOC  work on the asset to China Petroleum Pipeline
                         board meeting, chaired by H.H. Sheikh Khaled  Engineering Co. (CPPEC) and Robt Stone with
                         bin Mohamed bin Zayed Al Nahyan, member of  a duration of three years, with an optional two-
                         the Abu Dhabi Executive Council and chairman  year extension. The contracts were aimed at
                         of the Abu Dhabi Executive Office.   maintaining output at 650,000 bpd.
                           At 500mn barrels, a discovery at the Bu Hasa   The Onshore Block 3 find is the second
                         oilfield was the largest of the three, with 100mn  since Oxy picked up exploration rights to the
                         barrels discovered in Onshore Block 3, which  11,000-square km concession in 2019, having
                         is operated by US firm Occidental Petroleum  announced a “multi-reservoir discovery” last
                         (Oxy), and another 50mn barrels found in the  year.
                         Al Dhafra Petroleum Concession in the south-  Meanwhile, the discovery of 50mn barrels in
                         east of the emirate.                 the Al Dhafra concession supports the develop-
                           Producing 650,000 barrels per day (bpd),  ment of the area by a joint venture of the same
                         Bu Hasa is ADNOC’s largest onshore asset  name between ADNOC, Korea National Oil
                         and provides a significant portion of ADNOC  Co. (KNOC) and fellow Korean firm GS Energy.
                         Onshore’s output. Following the discovery,  Work is ongoing at the concession’s Haliba field
                         the field is thought to have held total proven  – home to 1.1bn barrels of oil in place (OIP) – to
                         reserves in excess of 7bn barrels, with the find  achieve a production capacity of 60,000 bpd by
                         providing “additional premium-grade Murban  2023.™
























































       P10                                      www. NEWSBASE .com                           Week 21   25•May•2022
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