Page 14 - MEOG Week 09 2023

MEOG NEWS IN BRIEF MEOG

TotalEnergies acquires UAE NISOC to make progress on the production and processing capacity of
oil and gas, constitute one of the goals of this
assets from CEPSA new projects national plan.
What is the current status of the
TotalEnergies has signed an agreement with National Iranian South Oil Co. (NISOC)’s development plan of 28 oil reservoirs? What
CEPSA to acquire CEPSA’s upstream assets in plan to develop 28 reservoirs, with the has happened so far in the development plan
the United Arab Emirates. focus being on output preservation and of 28 reservoirs is related to 26 reservoirs
The French firm acquired a 20% enhancement, is accelerating. Ali Reza because one reservoir still does not have the
participating interest in the Satah Al Razboot Daneshi, CEO of NISOC, said that obstacles permission of the Economic Council and a
(SARB), Umm Lulu, Bin Nasher and Al Bateel in the way of development of the 28 contract has not yet been concluded for one
(SARB and Umm Lulu) offshore concession. reservoirs, including contractors’ supply of reservoir.
The SARB and Umm Lulu concession commodities and payment issue, have been Contracts have been signed for the 26
includes two major offshore fields. ADNOC taken into consideration. He expressed hope reservoirs in different ways since March 2019
holds a 60% interest in this concession, that the Nargesi, Kaboud and Lali Asmari until December 2021.
alongside OMV (20%). The concession is fields would have been developed by March “In NISOC, we have put all these projects
operated by ADNOC Offshore. 2023. to a general screening. We required all
TotalEnergies also acquired a 12.88% Preserved and enhanced oil recovery contractors to meet their obligations. On the
indirect interest in the Mubarraz concession constitutes the main development project other hand, we also feel compelled to honour
held by Abu Dhabi Oil Company Ltd undertaken by NISOC in the aftermath our obligations set forth in these contracts,”
(ADOC), through the acquisition of 20% of of the 1979 Islamic Revolution. Spanning said Daneshi.
Cosmo Abu Dhabi Energy Exploration & five southwestern provinces, the projects Nonetheless, in the process of
Production Co. Ltd (CEPAD), a company are prioritised by Petroleum Ministry and implementation of projects, some contractors
holding a 64.4% interest in ADOC. The National Iranian Oil Co. (NIOC). The had weaknesses and they were helped to
Mubarraz concession is comprised of four primary objective of this projects is to ramp overcome them.
producing offshore fields. up oil output by 341 tb/d, which would Currently, 24 drilling rigs are operational
“This transaction represents another materialise with the development of 28 in the 26 reservoirs. So far, 42 wells have
important milestone in our long-standing reservoirs operated by NISOC. been drilled while 20 more are being drilled.
partnership with ADNOC and will further Supporting domestic manufacturing by Furthermore, 8 wells have been worked over
strengthen our presence in Abu Dhabi, requiring contractors to use domestically- and one well is being worked over.
where we have been present since 1939”, said manufactured equipment and development Well No. 6 of the Kaboud field in the
Patrick Pouyanné, Chairman and CEO of of the surrounding regions by allocating 4% Bangestan reservoir is the first well spudded
TotalEnergies. of the project’s credit to social responsibility is for boosting the output capacity. The well
In partnership with ADNOC, another goal of the project. struck oil last April with a flow of 1 tb/d.
TotalEnergies holds 10% in the ADNOC In terms of the amount of investment, The achievements from the successful
Onshore oil concession, 20 % in the offshore this project is considered the largest field drilling of Well No. 6 of the Kaboud field
Umm Shaif & Nasr oil concession and 5% in development project in Iran’s southern oil include gathering maximum new information
the offshore Lower Zakum oil concession. regions, consisting of 27 contract packages about the extent and dimensions of the
In addition, it holds 15% in ADNOC Gas with an estimated investment of more than reservoir, studying the output capacity of
Processing, 5% in ADNOC LNG , 5% in the $4.3 billion relying on the capabilities of Ilam Formation of the Bangestan reservoir
National Gas Shipping Company, and 40% domestic companies. of the Kaboud field, complying with
in the Ruwais Diyab unconventional gas Achieving the outlined goals in line with environmental obligations, management of
concession. the mission and vision of the Petroleum wastes and NISOC’s transfer of knowledge
In partnership with Mubadala, Ministry, increasing NISOC’s maximum and experience to private oil firms.
TotalEnergies holds a 24.5% stake in Dolphin efficient recovery, optimal management of According to planning made, it was
Energy, the first gas marketing project production costs by using appropriate and decided that by introducing structural changes
between Qatar, UAE, and Oman (2007). advanced technologies, renovation and into NISOC and redistributing employer
WORLD OIL reconstruction of existing facilities, use of forces, the projects could be accelerated.
well-oriented technologies in order to increase Furthermore, such working groups as the
the flow rate of the wells, use of facility-based Financial and Commodity Working Group
OIL technologies in order to optimise and enhance were established to explore and resolve

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