Hamburger Buttonclose search
العربيةkeyboard_arrow_right

ADNOC Announces $1.17 Billion Contract for Jack-up Barges to Support Production Capacity Growth

Contract to hire 13 jack-up barges awarded by ADNOC Offshore to ADNOC Logistics & Services (L&S), underpinning the world-class capabilities within ADNOC’s Group Companies 

Award will drive offshore operational efficiencies and support ADNOC’s objective to achieve 5 million barrels of daily crude oil production capacity by 2030 

Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value program

Award reinforces ADNOC L&S’s key role in enabling ADNOC’s broader expansion plans and its position as the region’s largest shipping and integrated logistics company 

 

article-img
Abu Dhabi, UAE – August 11, 2022: Abu Dhabi National Oil Company (ADNOC) announced today a $1.17 billion (AED4.3 billion) contract for the hire of 13 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 & Services (ADNOC L&S) and underpins the world-class capabilities within ADNOC’s group companies. Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) program, 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 provided by ADNOC L&S, enabling enhanced efficiencies. The barges, which will be deployed across ADNOC’s offshore fields, are equipped to support a wide scope of operations, including project work, maintainance and accommodation. 

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. ADNOC L&S have a proven track record in the industry and their best-in-class expertise, together with the ready availability of these 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 in line with the directives of our wise Leadership.”

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

The self-propelled jack-up barges will be hired along with manpower and equipment. The barges will be utilized 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.

Instead of these services being provided through several discrete, operationally specific contracts, all requirements have been unified in line with ADNOC’s smart approach of centralizing 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.
 

Release Details

August 11, 2022
Abu Dhabi

About ADNOC Offshore

ADNOC Offshore is one of the largest offshore oil and gas producers in the world, producing crude oil, raw gas, and condensate. The company has a production capacity of around two million barrels of oil and around three billion standard cubic feet of gas per day. Operations extend across eight established fields, six artificial islands, three natural islands and eight offshore super complexes. Along with more than 400 offshore structures, ADNOC Offshore has pioneered the use of artificial islands in developing Abu Dhabi’s shallow water hydrocarbon resources to minimize environmental impacts and optimize costs. ADNOC Offshore’s international concessions partners are ExxonMobil, INPEX-JODCO, CNPC, TotalEnergies, CEPSA, OMV, ENI and FALCON.  

About ADNOC Logistics & Services

ADNOC Logistics & Services (ADNOC L&S) has the largest and most diversified fleet in the Middle East, with more than 200 vessels transporting crude oil, refined products, dry bulk, containerized cargo, liquefied petroleum gas (LPG), and LNG to global markets. When combined with its 1.5 million square meter integrated logistics base in Mussafah and its comprehensive end-to-end logistics capabilities, ADNOC L&S is the region’s leading provider for integrated maritime logistics solutions. Over the past 24 months, ADNOC L&S has acquired more than 20 deep sea vessels, including eight Very Large Crude Carriers (VLCC) in 2021, that added 16 million barrels of capacity. Furthermore, the company acquired six product tankers, which expanded the product tanker fleet capacity to over 1 million metric tonnes as well as five VLGC for AW Shipping and five LNG carriers.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification. To find out more, visit www.adnoc.ae

For media inquiries please contact:

Philip Robinson
Manager, ADNOC External Relations
+971 (0) 50 504 4934
probinson@adnoc.ae