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ADNOC awards $2bn worth of contracts for offshore gas development project

ADNOC awards $2bn worth of contracts for offshore gas development project

 

ADNOC Drilling has received contracts worth AED7.49bn ($2bn) from Abu Dhabi National Oil Company (ADNOC) for the Hail and Ghasha Development Project, located in shallow water in the UAE.

The contracts include AED2.6bn ($711m) for the supply of four Island Drilling Units and AED 4.89bn ($1.3bn) for the provision of integrated drilling services and fluids for the project.

ADNOC Drilling said that the each of the contracts has a ten-year period.

UAE Minister of Industry and Advanced Technology and ADNOC managing director and group CEO Dr Sultan Ahmed Al Jaber said: “These substantial awards mark another important milestone in the delivery of the Ghasha mega-project.

“They also demonstrate the deep expertise and experience within ADNOC Drilling and the wider group to efficiently deliver complex projects that enable gas expansion while generating substantial in-country value to drive economic growth and diversification.”

ADNOC also awarded a third contract, valued at $681m, to ADNOC Logistics and Services to provide offshore logistics and marine support services.

The Hail and Ghasha project forms part of the Ghasha Concession, which is said to be the largest offshore sour gas development in the world.

Jaber added: “ADNOC is committed to unlocking the UAE’s abundant natural gas reserves to enable domestic gas self-sufficiency, industrial growth, and diversification, as well as to meet growing global gas demand, in line with the UAE Leadership’s wise directives.”

ADNOC plans to start production from the Ghasha Concession in 2025.

The concession is expected to have a peak production capacity of more than 1.5 billion standard cubic feet per day of natural gas.

Last year, ADNOC awarded two contracts for the provision of engineering, procurement and construction (EPC) work for the Dalma Gas Development Project within the Ghasha Concession.

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Published: 28-07-2022

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