Abu Dhabi National Oil Company (ADNOC) signed a $1.17 billion (AED4.3bn) for hiring 13 self propelled jack-up barges to drive its offshore operational efficiencies.
ADNOC Offshore awarded the five year contract to ADNOC Logistics & Services (ADNOC L&S).
Over 80 percent of award value will revert to UAE’s economy under ADNOC’s In-Country Value (ICV) program, supporting local economic growth and diversification.
The jack up barges will enhance the capacity of its crude oil production to five million barrels per day (mmbpd) by 2030.
It also enables rig-less operations and maintenance with single-point responsibility provided by ADNOC L&S, enabling enhanced efficiencies.
ADNOC Offshore has awarded a $1.17bn contract to ADNOC L&S to hire 13 jack-up barges, supporting production capacity growth.
More than 80% of the award will flow back into the UAE’s economy under ADNOC’s In-Country Value program (ICV).
— ADNOC Group (@AdnocGroup) August 11, 2022
Deployed across ADNOC’s offshore fields, it will support extensive operations, including project work, maintenance and accommodation.
The jack-up barges will be utilized for pre- and post-drilling operations, and topside maintenance and integrity restoration activities at offshore assets.
The requirements for its services are unified in line with ADNOC’s approach of centralizing procurement and operational logistics management.
This provides ADNOC and its strategic partners with operational flexibility while enabling cost efficiencies and single-point responsibility by ADNOC L&S.
Ahmad Saqer Al Suwaidi, ADNOC Offshore CEO, said, “This significant award to ADNOC Logistics & Services will help deliver our production capacity expansion in the offshore and directly support ADNOC’s strategic growth objective of 5 million barrels of daily oil production capacity by 2030.”
Captain Abdulkareem Al Masabi, ADNOC Logistics & Services CEO, said, “These vessels represent an important opportunity for growth and diversification for ADNOC L&S and will be a critical enabler of ADNOC Offshore’s growth”.