Emirates News Agency – “ADNOC” awards contract to lease self-propelled platforms worth 4.3 billion dirhams

ABU DHABI, 11th August/ WAM/ The Abu Dhabi National Oil Company (ADNOC) announced today the award of a contract worth 4.3 billion dirhams ($1.17 billion) to lease 13 self-propelled platforms to enhance the operational efficiency of its offshore operations and support efforts to achieve the goal of increasing its crude oil production capacity to 5 million barrels per day by 2030.

ADNOC Marine awarded the contract to ADNOC Logistics and Services, confirming the world-class capabilities of the ADNOC Group companies.

More than 80% of the total value of the contract will be redirected to the local economy through the ADNOC program to enhance the local added value over the 5-year contract period, which will contribute to advancing development and economic diversification in the country.

Autonomous and mobile platforms are a multi-use asset that enables ADNOC Logistics and Services to carry out drilling-free operations to prepare, equip and maintain wells at the lowest costs and from one location, which contributes to raising the operational efficiency of the company’s marine operations. The platforms are equipped with state-of-the-art equipment to enable them to provide a wide range of support services to ADNOC’s offshore fields, including operations execution, maintenance services and field personnel accommodation requirements.

On this occasion, Ahmed Saqr Al-Suwaidi, CEO of ADNOC Offshore, said: “This contract, which was awarded to ADNOC Logistics and Services, supports efforts to implement ADNOC Offshore’s plans to increase its oil production capacity and directly supports ADNOC’s goal. ‘The strategic goal of increasing its production capacity of crude oil to reach 5 million barrels per day by 2030. ADNOC Logistics and Services has a proven track record and long experience in the oil and gas sector, and this cooperation allows us to benefit from the services of self-propelled platforms in enhancing the flexibility of our operational operations. In addition to reducing costs, which contributes to consolidating ADNOC’s leading position among the lowest cost and carbon-intensive oil producers, a large proportion of the value of this contract will be redirected to the local economy through ADNOC’s In-Country Value (ICV) program, which contributes In creating more job opportunities and pushing the wheel of development and economic diversification in the country in line with the directives of our wise leadership.”

For his part, Captain Abdul Karim Al-Masabi, CEO of ADNOC Logistics and Services, said: “We are pleased to continue the multi-decade cooperation relationship between ADNOC Marine and ADNOC Logistics and Services.

ADNOC Logistics and Services is committed to constantly seeking to take advantage of all growth opportunities to achieve and increase the value of the ADNOC Group. The chartered platforms represent an important opportunity to enhance the growth and diversification of ADNOC L&S’ business and services, and will contribute significantly to enabling the growth and expansion of ADNOC Offshore’s business.”

According to the contract, the self-propelled marine platforms, as well as the accompanying equipment and the human cadres working on them, will be leased. The platforms will be used for preparation and preparation of wells, pre- and post-drilling operations, as well as maintenance and safety operations in offshore assets.

The unification of the scope of implementation of these works through a single service contract instead of executing well preparation and preparation services through several separate contracts, confirms ADNOC’s smart approach to procurement, which contributes to enhancing the operational flexibility of ADNOC Marine, as well as reducing costs, and unifying the responsibility of the company. ADNOC Logistics and Services.

This contract comes as part of ADNOC Marine’s continuous efforts in responsible investment and development to accelerate growth and increase value for the country, ADNOC and its strategic partners.

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WAM / Rami Samih / Islama Al-Hussein

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