HomeEnergy & SustainabilityADNOC aims production growth with $1.17 bn contract
By Economy Middle East
August 11, 2022 6:22 pm

ADNOC aims production growth with $1.17 bn contract

Contract awarded by ADNOC Offshore to ADNOC Logistics & Services
An Emirati man seen near the logo of ADNOC

Abu Dhabi National Oil Company (ADNOC) has announced a 4.3 billion dirhams ($1.17 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore operational efficiencies and support the expansion of its crude oil production capacity to five million barrels per day by 2030.

The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services. Over 80 percent of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) program, supporting local economic growth and diversification.

The 13 self-propelled jack-up barges are multi-purpose assets that enable rig-less operations and maintenance with single-point responsibility provided by ADNOC L&S, enabling enhanced efficiencies. The barges, which will be deployed across the company’s offshore fields, are equipped to support a wide scope of operations, including project work, maintenance, and accommodation.

Ahmad Saqer Al Suwaidi, ADNOC Offshore CEO, said: “This award to ADNOC Logistics & Services will help deliver our production capacity expansion offshore and directly support ADNOC’s strategic growth objective of 5 million barrels of daily oil production capacity by 2030.”

The self-propelled jack-up barges will be hired along with manpower and equipment. The barges will be utilized for rig-less good intervention and pre- and post-drilling operations, as well as for topside maintenance and integrity restoration activities at our offshore assets.