Abu Dhabi National Oil Company (Adnoc) announced on Thursday the conclusion of a contract worth $1.17 billion (4.3 billion dirhams) for the lease of 13 self-propelled self-lifting barges to improve the efficiency of offshore operations and support the expansion of its crude oil production capacity to five million barrels per day (million barrels per day) by 2030 year..
The five-year contract was signed by Adnoc Offshore with Adnoc Logistics & Services (Adnoc L&S) and reinforces the world-class capabilities in Adnoc Group companies.
More than 80 percent of the premium value will be returned to the UAE economy as part of Adnoc's successful In-Country Value Creation (ICV) program supporting local economic growth and diversification.
13 self-propelled self-lifting barges are multi-purpose assets that allow operations and maintenance without the use of drilling rigs with a single responsibility provided by Adnoc L&S, which ensures increased efficiency. The barges that will be deployed at Adnoc offshore fields are equipped to support a wide range of operations, including design work, maintenance and placement.
Ahmad Saqer Al Suwaidi, CEO of Adnoc Offshore, said: “This significant award to Adnoc Logistics & Services will help ensure the expansion of our offshore production capacity and directly support Adnoc's strategic goal of increasing oil production by 5 million barrels per day by 2030.
AdnocL&S has proven industry experience, and their best-in-class experience, as well as the availability of these self-propelled self-lifting barges, will help us increase efficiency and flexibility, while strengthening Adnoc's position as a leading producer of low-cost and low-carbon energy.. It is important to note that the award provides a very high ICV, which can stimulate new business opportunities to support the growth and diversification of the UAE economy in accordance with the directives of our wise leadership.”
Speaking about the contract, Captain Abdulkarem Al Masabi, CEO of Adnoc Logistics & Services, said: “We are very proud of the continuation of the long-standing relationship between Adnoc Offshore and Adnoc Logistics & Services.”
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