ADNOC Awards US $1.6bn Contracts to CNPC Affiliate

Posted On July 19th, 2018 - 4:25 pm | by Oil and gas press

The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88bn (US $1.6bn) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometres, as the company continues to identify and unlock new opportunities and maximize value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.

Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30,000 km2 offshore and 23,000 km2 onshore. The contract has been awarded by ADNOC to BGP Inc., a subsidiary of China National Petroleum Company (CNPC), who are represented in the UAE by Al Masaood Oil Industry Supplies & Services Co.

The agreement was signed on the eve of a State Visit to the UAE by China’s President Xi Jinping, by Abdulmunim Al Kindy, ADNOC’s Upstream Director, and Gou Liang, President of BGP. The signing was witnessed by His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and His Excellency Wang Yilin, Chairman of CNPC.

Source / Further information : Abu Dhabi National Oil Company (ADNOC)

The UAE is one of the world’s largest oil and gas producers, with about 96% of its reserves within the emirate of Abu Dhabi. Located in one of the world’s largest hydrocarbon super-basins, there remains undiscovered and undeveloped potential in the numerous stacked reservoirs.

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