Business

Adnoc awards $1.17b contract for jack-up barges to support production capacity growth

The five-year agreement was granted by Adnoc Offshore to Adnoc Logistics and also Solutions (Adnoc L&S) and also underpins the first-rate capacities within Adnoc’s team business

Abu Dhabi National Oil Business (Adnoc) on Thursday introduced a $1.17 billion (Dh4.3 billion) agreement to employ 13 self-propelled jack-up barges to drive offshore functional effectiveness and also sustain the growth of its petroleum manufacturing capability to 5 million barrels each day (mmbpd) by 2030.

The five-year agreement was granted by Adnoc Offshore to Adnoc Logistics and also Solutions (Adnoc L&S) and also underpins the first-rate capacities within Adnoc’s team business.

Over 80 percent of the honor worth will certainly recede right into the UAE’s economic climate under Adnoc’s effective In-Country Worth (ICV) program, sustaining regional financial development and also diversity.

The 13 self-propelled jack-up barges are multi-purpose properties that make it possible for rig-less procedures and also upkeep with single-point obligation given by Adnoc L&S, making it possible for boosted effectiveness. The barges, which will certainly be released throughout Adnoc’s overseas areas, are furnished to sustain a broad extent of procedures, consisting of task job, upkeep and also holiday accommodation.

Ahmad Saqer Al Suwaidi, Adnoc Offshore chief executive officer, stated this considerable honor to Adnoc Logistics and also Solutions will certainly assist supply our manufacturing capability growth in the overseas and also straight sustain Adnoc’s critical development goal of 5 million barrels of day-to-day oil manufacturing capability by 2030.

” Adnoc L&S have a tried and tested performance history in the sector, and also their best-in-class knowledge, along with the all set schedule of these self-propelled jack-up barges, will certainly assist us drive effectiveness and also adaptability while sealing Adnoc’s placement as a leading low-cost and also low-carbon power manufacturer. Seriously, the honor allows extremely high ICV, which can promote brand-new company possibilities to sustain the development and also diversity of UAE’s economic climate according to our smart management’s instructions,” he stated.

Talking on the agreement, Captain Abdulkareem Al Masabi, Chief Executive Officer of Adnoc Logistics & & Solutions, stated: “We are very happy to proceed the decades-long connection in between Adnoc Offshore and also Adnoc Logistics and also Providers. We are devoted to remaining to confiscate development possibilities and also supply even more worth to Adnoc, and also this news is one more landmark because trip. These vessels stand for a crucial chance for development and also diversity for Adnoc L&S and also will certainly be a crucial enabler of Adnoc Offshore’s development.”

The self-propelled jack-up barges will certainly be worked with in addition to workforce and also devices. The barges will certainly be made use of for rig-less well treatment and also pre- and also post-drilling procedures, and also topside upkeep and also stability remediation tasks at our overseas properties.

As opposed to these solutions being given with a number of distinct, operationally certain agreements, all demands have actually been combined according to Adnoc’s clever technique of centralising purchase and also functional logistics monitoring. This offers Adnoc Offshore and also its critical companions with functional adaptability while making it possible for expense effectiveness and also single-point obligation by Adnoc L&S.

The honor underpins the ongoing financial investment and also advancement at Adnoc Offshore and also makes certain the liable velocity of development and also better worth for the UAE, Adnoc and also its critical companions.

— muzaffarrizvi@khaleejtimes.com

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