Abu Dhabi National Oil Company(ADNOC) awarded a Dh1.8 billion contract to upgrade capacity at its giant onshore Bab field, which produces the emirate’s flagship Murban crude.
A subsidiary, Adnoc Onshore, granted 39-month engineering, procurement, and construction contract to Greek company Archirodon Construction Overseas to maintain long-term crude production capacity at the field at 485,000 barrels per day.
The Bab field already plays an important role in supporting Adnoc’s production capacity mandates and this upgrade complements Adnoc’s upstream growth plans,” said Adnoc Onshore chief executive, Yaser Al Mazrouei.
The UAE accounts for 4 per cent of global crude production, much of it sourced from fields owned and operated by Adnoc in Abu Dhabi. The national oil company is targeting increasing production capacity to 4 million barrels per day by 2020, from 3 million bpd at present. By 2030, the company sees output capacity hitting 5 million bpd. The UAE’s total output for September was 3.08 million bpd, according to secondary sources cited by Opec.
Adnoc is targeting raising production capacity on the Bab field to 450,000 bpd by 2020 from 420,000 bpd presently. Around Dh1.35bn is expected to flow back into the UAE as a result of the capacity addition, Adnoc said.
Source: https://www.adnoc.ae/