Topic: Intervention

ADNOC issues US$1.17bn contract for jack-up barges to promote production growth

Region: Middle East
Content Types: Report
Date: Aug, 2022

ADNOCAbu Dhabi National Oil Company (ADNOC) has announced a US$1.17bn contract for the hire of thirteen self-propelled jack up barges to drive offshore operational efficiencies and support the expansion of its crude oil production capacity to five million barrels per day (mmbpd) by 2030.

The five year contract was awarded by ADNOC Offshore to ADNOC Logistics and Services (ADNOC L&S). Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) programme, supporting local economic growth and diversification.

The 13 self-propelled jack up barges are multi-purpose assets that enable rig-less operations and maintenance with single point responsibility proved by ADNOC L&S, enabling efficiencies. The barges, which will be deployed across ADNOC’s offshore fields, are equipped to support a wide scope of operations, including project work, maintenance and accommodation.

Ahmad Saqer Al Suwaidi, ADNOC Offshore CEO, said, “This significant award to ADNOC L&S will help deliver our production capacity expansion in the offshore and directly support ADNOC’s strategic growth objective of 5 million barrels of oil production capacity by 2030. ADNOC L&S have a proven track record in the industry and their best in class expertise, together with the ready availability of the self-propelled jack up barges, will help us drive efficiencies and flexibility while cementing ADNOC’s position as a leading low cost and low carbon energy producer. Critically, the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of UAE’s economy.”

Speaking on the contract, Captain Abdulkareem Al Masabi, ADNOC L&S CEO, said, “We are extremely proud to continue the decade’s long relationship between ADNOC Offshore and ADNOC L&S. We are committed to continuing to seize growth opportunities and deliver more value to ADNOC and this announcement is another milestone in that journey.”

The self-propelled jack up barges will be hired along with manpower and equipment. The barges will be utilised for rig-less well intervention and pre- and post-drilling operations, as well as for topside maintenance and integrity restoration activities at our offshore assets.

All requirements of the services have been unified in line with ADNOC’s approach of centralising procurement and operational logistics management. This provides ADNOC Offshore and its strategic partners with operational flexibility while enabling cost efficiencies and single point responsibility by ADNOC L&S.

The award underpins the continued investment and development at ADNOC Offshore and ensures the responsible acceleration of growth and greater value for the UAE, ADNOC and its strategic partners.