ABU DHABI, 31 August 2022 (WAM) — Abu Dhabi National Oil Company (ADNOC) announced Wednesday that it has signed five framework agreements worth $1.83 billion (AED $6.72 billion) Did. Support efforts to expand production capacity of low-carbon oil and gas resources to meet the world’s growing energy needs.

The framework agreement is the largest such award in the oil and gas industry, with Al Ghaith Oilfield Supplies and Services Company, Al Mansoori Directional Drilling Services (Al Mansoori), Schlumberger Middle East SA (Schlumberger) and Haliburton Awarded to Worldwide Limited Abu Dhabi. (Haliburton) and Weatherford Bin Hamoodah Company LLC (Weatherford) will be subject to a competitive bidding process.

The award covers ADNOC’s onshore and offshore fields and is valid for five years, with an option for an additional two years. Under ADNOC’s In-Country Value program, more than 75% of winnings could go back into his UAE economy during the life of the deal.

Yaser Saeed Almazrouei, Executive Director of ADNOC Upstream, said: The award builds on our continued investment in drilling services and brings substantial value to the country to support economic growth and diversification, in line with the wise direction of UAE leadership. ”

The signing of the framework agreement will expand production capacity to 5 million barrels per day (mmbpd) by 2030, enable the UAE to become self-sufficient in gas, and to continue to be a low-cost, low-carbon powerhouse, with thousands of Supports ADNOC’s requirement to drill new wells. oil producer. The award will also enable hundreds of millions of dollars in cost savings.

ADNOC has optimized its procurement approach to reflect market dynamics, focusing on long-term contracts with the optimal number of suppliers that offer stable and reliable deliveries at very competitive prices. I’m here. Since November 2021, ADNOC has awarded drilling contracts valued at over $11 billion (AED40.37 billion) for wellheads and related components, downhole completion equipment and related services, liner hangers, cementing services and wireline logging. , and awarded to leading contractors for directional drilling.

Directional drilling and logging during drilling requires control of well direction and deviation during drilling to access oil and gas resources and measurement of formation properties to enhance production.

Source link

Previous articleJapan further relaxes border controls for tourism
Next articleConcerned residents tell Pritam Singh about rising prices of HDB resale apartments