ADNOC subsidiary awards contract for full development of the offshore Bu Haseer field
ADNOC subsidiary Al Yasat Company for Petroleum Operations (Al Yasat) says it has awarded the Engineering, Procurement and Construction (EPC) contract for the full development of the offshore Bu Haseer field to Abu Dhabi’s National Petroleum Construction Company (NPCC), according to a statement.
Al Yasat said the agreement covers ECP as well as commissioning activities for offshore facilities with the aim of improving production capacity from the Bu Haseer field from the current 8,000 bpd to 16,000 bpd in 2020.
A key feature of the award, said ADNOC, “is that over half the value of the NPCC contract will feed back into the local economy under ADNOC’s In-Country Value programme which encourages private sector partnerships and opportunities resulting from its 2030 growth strategy to catalyse socio-economic development, improve knowledge transfer and create additional employment for UAE nationals.”
“The award of the EPC contract, to further develop Bu Haseer, one of our most recent upstream developments, illustrates our commitment to growing production capacity and is part of our 2030 smart growth strategy, driving a more profitable upstream,” said Abdulmunim Al Kindy, upstream director, ADNOC. “Bu Haseer, which forms part of two exploration blocks awarded to CNPC in 2013, demonstrates the substantial exploration and production potential of Abu Dhabi’s subsurface and the commercial opportunities to maximise value from our upstream resources.”
According to ADNOC, the Al Yasat joint-venture includes two concession blocks, one offshore and one mixed onshore/offshore. The offshore block, in addition to Bu Haseer, includes a number of oil and gas fields currently under appraisal and development including Belbazem, Umm Al Dholou, and Umm Al Salsal. Bu Haseer is the first of these fields to be developed. The anticipated oil in place from the entire offshore block is 1.5 Billion Standard Barrels. The onshore/offshore concession area is located to the south west of Abu Dhabi and Al Yasat is currently assessing this area’s full commercial potential.
“In little more than four years, along with our partners CNPC, we have moved from development planning to production from the Bu Haseer field,” said Tayba Al Hashemi, acting CEO, Al Yasat. “By any benchmark this is a significant achievement and we look forward with confidence to quickly moving Bu Haseer to full field development, enhancing the already attractive returns for ADNOC and our partners.”