ADNOC Awards $946 Mln Contract to Develop Umm Shaif Offshore Field

ADNOC Awards $946 Mln Contract to Develop Umm Shaif Offshore Field

Logos of ADNOC are seen at Gastech, the world's biggest expo for the gas industry, in Chiba, Japan, April 4, 2017. (Reuters)

The Abu Dhabi National Oil Company (ADNOC) announced the award of a $946 million (AED3.47 billion) Engineering, Procurement, and Construction (EPC) contract for the strategic long-term development of its Umm Shaif field.

The investment supports ADNOC’s oil production capacity plans of five million barrels per day by 2030 while ensuring energy security for the United Arab Emirates and partners around the world.

The "Long-Term Development Plan – Phase 1" (LTDP-1) EPC contract was awarded by ADNOC Offshore to National Petroleum Construction Company (NPCC) after a competitive tender process.

The scope of the award covers engineering, procurement, fabrication, installation, and commissioning activities required to maintain Umm Shaif’s 275,000 barrels per day (mbd) crude oil production capacity, increase efficiencies and enhance the field’s long-term potential.

Yaser Saeed Almazrouei, ADNOC Upstream Executive Director, said: "This important award for the long-term development of ADNOC’s pioneer offshore Umm Shaif field will maximize efficiencies while maintaining future output and supporting ADNOC’s strategic objective of five million barrels of oil production capacity a day by 2030. "

"In addition, the development plan for Umm Shaif underpins ADNOC’s commitment to maintaining its