The Abu Dhabi National Oil Company (ADNOC) today announced the award of three contracts with a total value of about 1.19 billion dirhams (US $ 324 million) to develop operations in a number of onshore fields and enhance operational efficiency as part of its continuous efforts to implement responsible investments to achieve its integrated 2030 strategy for smart growth.
The contracts awarded by ADNOC Onshore, a subsidiary of the ADNOC Group, include the procurement and construction of flowlines and wellhead installations in a number of onshore fields in the Emirate of Abu Dhabi. The contracts also include the implementation of engineering, procurement and construction for a new transfer system that provides significant back-up support for the existing crude oil receiving terminals at the export terminals in Jebel Dhanna and the Emirate of Fujairah.
More than 70% of the total value of the contracts awarded to each of Galfar Engineering and Contracting “LLC – Emirates” and Rob Stone Company “Middle East LLC” will be redirected to the local economy through The ADNOC In-Country Value Enhancement Program, ”confirming ADNOC’s commitment to maximizing and increasing value for the UAE.
Yasser Saeed Al Mazrouei, CEO of ADNOC Exploration, Development and Production said – on this occasion -: “The awarding of these contracts confirms ADNOC’s direction and commitment to implementing responsible investments to maximize utilization, increase the value of Abu Dhabi’s resources and company assets and enhance its long-term resilience in its continuous endeavor to implement its integrated strategy 2030. For smart growth. ”
He added, “These contracts were awarded following a tender that witnessed great competition, to ensure that the winning contracts contributed to redirecting a large percentage of their total value to the local economy through the ADNOC In-Country Value Enhancement Program,” which confirms ADNOC’s commitment to support local companies and contribute to stimulating growth. And diversification of the UAE economy. ”
In line with the criteria for the comprehensive commercial evaluation of bids and tenders, which include a special clause to enhance in-country value, ADNOC has studied the extent to which contracts submitted by companies contribute to enhancing in-country value in various stages of implementation. ADNOC’s strategy to enhance in-country value aims to support cooperation between local and international companies and provide more opportunities for local companies to contribute to stimulating economic and social development in the country and providing jobs for citizens in the private sector. The two winning bids give priority to providing project materials from sources within the UAE, using local suppliers and manufacturers, and local human cadres.
Omar Obaid Al-Naseri, CEO of ADNOC Onshore, said: “These contracts build on the momentum our recent decades have achieved to develop operations at the Jabal Dhanna plant, and confirm our commitment to ensuring optimum utilization of the assets and fields managed by the company in a way that contributes to increasing the value for our shareholders and achieving ADNOC’s goal. The aim is to enhance profitability in the field of exploration, development and production The awarding of the contract for the construction of flow lines and wellhead facilities will contribute to maintaining the sustainability of production from the Bab, Asab and Sahel fields in the long term, while awarding the transfer system contract will provide Back-up to the current crude oil receiving terminal to connect our fields and export terminals to ensure business continuity and flexibility. ”
The procurement and construction contracts for flow lines and wellhead installations were divided into two parts. The first contract, worth about 261.2 million dirhams ($ 71 million), was awarded to Galfar Engineering and Contracting Company LLC-Emirates. The company will carry out the procurement and construction works for flowlines and wellhead facilities for the “Assab” and “Sahel” fields, which are managed by ADNOC Onshore.
The second contract, worth about 618.2 million dirhams ($ 168 million), was awarded to Rob Stone Company, “Middle East LLC”. The company will carry out the procurement and construction work for flowlines and wellhead facilities for the Bab field operated by ADNOC Onshore.
The scope of work includes remaining engineering, procurement, construction, pre-commissioning and commissioning of natural oil production wells and water injection wells in the respective fields. Both contracts are expected to be completed within five years.
The third contract for engineering, procurement and construction was awarded to Galfar Engineering and Contracting Company “LLC – Emirates”, with a value of about 309.1 million dirhams / 84 million dollars /, and includes the construction of a new transfer system that provides significant backup support to receiving terminals Current ADNOC Onshore crude oil at the export terminals in Jebel Dhanna and Fujairah.
Follow the economic statement via Google News
These were the details of the news ADNOC awards contracts worth $ 324 million to develop onshore –... for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.
It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.