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ADNOC's unit awards AED 1.2bn contracts to develop onshore oil fields

ADNOC's unit awards AED 1.2bn contracts to develop onshore oil fields
Galfar also won an EPC contract of a value of AED 309.1m

UAE – Mubasher: ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC), has awarded three contracts valued at around AED 1.2 billion ($324 million) to develop a number of onshore oil fields and raise their operational efficiency, according to the Emirates News Agency (WAM).

Valued at around AED 261.2 million ($71 million), the first contract is won by Galfar Engineering & Contracting to procure and construct flowlines and wellhead installations for the ADNOC Onshore Asab and Sahil fields.

Galfar also won an engineering, procurement, and construction contract of a value of AED 309.1 million ($84 million) to develop a new bypass system to provide backup for ADNOC Onshore’s existing crude receiving stations at the Jebel Dhanna and Fujairah export terminals.

Meanwhile, Robt Stone was awarded a PC contract, amounting to about AED 618.2 million ($168 million) for the development of the ADNOC Onshore Bab field.

More than 70% of the combined award value will be injected into the UAE's economy, as part of ADNOC’s In-Country Value (ICV).

The project is forecast to be finalised in 30 months.

The CEO of ADNOC Onshore, Omar Obaid Al Nasri, commented: "These contracts build on the momentum of our recent awards for upgrades on the Jebel Dhanna terminal and underline our commitment to unlocking the full potential of our assets and fields to deliver increased value for our shareholders and contribute to ADNOC’s objective to create a more profitable upstream business."

The Executive Director of ADNOC’s Upstream Directorate, Yaser Saeed Almazrouei, commented: "These awards further highlight ADNOC’s drive to invest responsibly to unlock greater value from our assets and resources and build long-term resilience as we deliver our 2030 strategy."