Adnoc invests AED1.16 billion to connect smart wells at Bu Hasa

Adnoc invests AED1.16 billion to connect smart wells at Bu Hasa

ABU DHABI / WAM

The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday, an investment of up to $318 million (AED1.16 billion) to connect newly drilled smart wells to the main production facilities at Bu Hasa, which will sustain production capacity of 650,000 barrels per day (bpd) at Adnoc’s largest onshore asset. The engineering, procurement and construction (EPC) contract has been awarded in two packages by Adnoc’s subsidiary, Adnoc Onshore. Package 1 is valued at up to $158.6 million (AED582 million) and has been awarded to China Petroleum Pipeline Engineering Co Ltd, while Package 2, with a value of up to $159.1 million (AED 583.9 million) has been awarded to Robt Stone (ME) LLC. The duration of the contracts is three years, with the option of a two-year extension. The EPC award follows a competitive tender process and will see over 50 percent of the combined value of both awards flow back into the UAE economy under Adnoc’s In-Country Value (ICV) programme, highlighting how Adnoc continues to prioritise ICV as it delivers on its 2030 strategy.

Yaser Saeed Almazrouei, Adnoc Upstream Executive Director, said, “This EPC award demonstrates how Adnoc is leveraging advanced technologies, such as smart wells with state-of-the-art remote