Abu Dhabi National Oil Company (ADNOC) announced today the award of a $946 million (AED3.47 billion) Engineering, Procurement, and Construction (EPC) contract for the strategic long-term development of its Umm Shaif field.<\/p>\n\n\n\n
The investment supports ADNOC\u2019s oil production capacity plans of five million barrels per day (mmbpd) by 2030 while ensuring energy security for the United Arab Emirates and partners around the world.<\/p>\n\n\n\n
The \u2018Long-Term Development Plan \u2013 Phase 1\u2019 (LTDP-1) EPC contract was awarded by ADNOC Offshore to National Petroleum Construction Company (NPCC) after a competitive tender process. The scope of the award covers engineering, procurement, fabrication, installation and commissioning activities required to maintain Umm Shaif\u2019s 275,000 barrels per day (mbd) crude oil production capacity, increase efficiencies and enhance the field\u2019s long-term potential.<\/p>\n\n\n\n
Significantly, over 75% of the total award value will flow back into the UAE economy under ADNOC\u2019s In-Country Value (ICV) programme, ensuring that more economic value remains in the country from the contracts it awards. This reinforces ADNOC\u2019s commitment to the UAE\u2019s \u2018Principles of the 50\u2019, the economic blueprint for sustainable growth announced by the UAE\u2019s leadership in 2021.<\/p>\n\n\n\n
Yaser Saeed Almazrouei, ADNOC Upstream Executive Director, said, \u201cThis important award for the long-term development of ADNOC\u2019s pioneer offshore Umm Shaif field will maximize efficiencies while maintaining future output and supporting ADNOC\u2019s strategic objective of five million barrels of oil production capacity a day by 2030. In addition, the development plan for Umm Shaif underpins ADNOC\u2019s commitment to maintain its position as a leading low-cost oil producer and strengthens our role as a reliable energy provider to customers around the world.<\/p>\n\n\n\n
\u201cWe are pleased to be collaborating again with NPCC as a contractor bringing leading expertise and advanced technologies along with a proven industry track record. Importantly, the very high In-Country Value generated from this contract award will stimulate new business opportunities for the private sector and, in line with the directives of the UAE\u2019s wise Leadership, support the UAE\u2019s economic growth as we look to our next 50 years.\u201d<\/p>\n\n\n\n
The EPC contract, which is due to be completed in 2025, comprises two packages for network expansion and new well-head towers. The first package includes modifications and extension of existing facilities with installation of new subsea cables and pipelines for debottlenecking. The second package includes the design of three lean well-head towers with associated new pipelines. The contract incorporates \u2018fit for the future\u2019 technology including rigless electrical submersible pumps (ESP) and other digital field technologies, which will increase efficiencies while maintaining current production capacity.<\/p>\n\n\n\n
Ahmad Saqer Al Suwaidi, CEO of ADNOC Offshore, said, \u201cThis contract is an important contributor to ADNOC Offshore\u2019s plans as we build our production capacity to over 2 million barrels a day in the coming years in support of ADNOC\u2019s smart growth strategy. The award follows a highly competitive bid process, which included a rigorous assessment of how much of the contract value would support the growth and diversification of the UAE\u2019s economy through ADNOC\u2019s ICV Programme.\u201d<\/p>\n\n\n\n
Umm Shaif is ADNOC\u2019s most historic offshore asset. 2022 marks the 60th anniversary of the UAE\u2019s first oil export of Umm Shaif crude oil (July 1962). Continuing investment and development at Umm Shaif ensures responsible maximization of profitability, enabling greater value for the UAE, ADNOC and its partners.<\/p>\n","protected":false},"excerpt":{"rendered":"
Abu Dhabi National Oil Company (ADNOC) announced today the award of a $946 million (AED3.47 billion) Engineering, Procurement, and Construction (EPC) contract for the strategic long-term development of its Umm Shaif field. The investment supports ADNOC\u2019s oil production capacity plans of five million barrels per day (mmbpd) by 2030 while ensuring energy security for the United Arab Emirates and partners around the world. The \u2018Long-Term Development Plan \u2013 Phase 1\u2019 (LTDP-1) EPC contract was awarded by ADNOC Offshore to National Petroleum Construction Company (NPCC) after a competitive tender process. The scope of the award covers engineering, procurement, fabrication, installation and […]<\/p>\n