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(MENAFN – Khaleej Times)
The Abu Dhabi National Oil Company (Adnoc) on Thursday announced a $1.17 billion (MAD 4.3 billion) contract for the lease of 13 self-propelled jack-up barges to increase operational efficiency in offshore and to support the expansion of its crude oil production capacity to five million barrels. per day (mmbpd) by 2030.
The five-year contract was awarded by Adnoc Offshore to Adnoc Logistics and Services (Adnoc L&S) and builds world-class capabilities within Adnoc Group companies.
Over 80% of the prize’s value will be reinjected into the UAE economy through Adnoc’s successful In-Country Value (ICV) program, which supports local economic growth and diversification.
The 13 self-propelled jack-up barges are versatile assets that enable rig-less operations and maintenance with single liability provided by Adnoc L&S, enabling increased efficiency. The barges, which will be deployed on Adnoc’s offshore fields, are equipped to support a wide range of operations, including project work, maintenance and accommodation.
Ahmad Saqer Al Suwaidi, CEO of Adnoc Offshore, said this significant award to Adnoc Logistics and Services will help expand our production capacity in offshore and directly support Adnoc’s strategic growth target of five million barrels of daily oil production capacity by 2030.
‘Adnoc L&S has a proven track record in the industry, and their top-notch expertise, along with the ready availability of these self-propelled jackup barges, will help us improve efficiency and flexibility while solidifying Adnoc’s position. as a leader. low-cost, low-carbon energy producer. Critically, the price allows for a very high LCI, which can stimulate new business opportunities to support the growth and diversification of the UAE economy as directed by our wise leadership,” he said.
Speaking on the contract, Adnoc Logistics & Services CEO Captain Abdulkareem Al Masabi said, “We are extremely proud to continue the decades-long relationship between Adnoc Offshore and Adnoc Logistics and Services. We are committed to continuing to seize growth opportunities and bring more value to Adnoc, and this announcement is another important step in that journey. These vessels represent a significant growth and diversification opportunity for Adnoc L&S and will be a key catalyst for Adnoc Offshore’s growth.
Jack-up barges will be leased along with labor and equipment. The barges will be used for non-drilling well intervention and pre- and post-drilling operations, as well as maintenance and integrity restoration activities at our offshore assets.
Instead of these services being provided through multiple separate and operationally specific contracts, all requirements have been unified in line with Adnoc’s smart approach of centralizing the procurement and management of operational logistics. This provides Adnoc Offshore and its strategic partners with operational flexibility while enabling cost savings and single accountability by Adnoc L&S.
The award supports the continued investment and development of Adnoc Offshore and ensures the responsible acceleration of growth and greater value for the UAE, Adnoc and its strategic partners.
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