You are currently viewing A $173 million contract has been awarded by Adnoc to increase production at the Asab oil field

A $173 million contract has been awarded by Adnoc to increase production at the Asab oil field

The project is expected to result in a 12% increase in Murban crude capacity from the field.

Adnoc was awarded a $173 million contract to increase production capacity of Abu Dhabi’s flagship Murban crude at Asab, one of the country’s largest oil fields.

The three-year engineering, procurement, and construction (EPC) contract was awarded to Archirodon Construction Overseas Company by the company’s subsidiary, Adnoc Onshore, according to a statement released on Monday.

The project will increase the capacity of the Asab field’s light and sweet Murban crude by 12%.

“This work further supports our advantage of providing some of the world’s most cost-efficient, lower-carbon crude,” it said, “as we continue to accelerate toward an oil production capacity of 5 million barrels per day by 2030.”

Adnoc plans to invest $127 billion in capital to expand its upstream production capacity and downstream portfolio, as well as its low-carbon fuels business and clean energy goals.

It also wants to boost its 4 billion stockpile barrels of oil and 16 trillion standard cubic feet of natural gas reserves.

To boost production, the company has awarded a number of contracts.

Adnoc Onshore awarded Robt Stone Middle East a $227 million contract for enhanced oil recovery in March, a technology that will help it recover more reserves from Bab, its largest onshore oilfield.

In December, the company also signed a $3.8 billion five-year contract with Adnoc Drilling for the continued provision of drilling, workovers, and other well services, which will improve work crew efficiency, rig move times, and maintenance scheduling.

Robt Stone and the UAE arm of Oman’s Galfar Engineering and Contracting were awarded $324 million in contracts by Adnoc Onshore in October 2020 to optimize operations and boost efficiencies across a number of Abu Dhabi’s onshore oil fields.

According to the statement, Adnoc’s In-Country Value program will result in nearly 70% of the value of its latest construction contract, which was awarded to Archirodon, flowing back into the UAE’s economy.

In November 2019, Adnoc awarded Archirodon a $490 million EPC contract to upgrade the Bab oil field.