ADNOC awards $744 million EPC contract for Belbazem Offshore Block field development

ADNOC awards $744 million EPC contract for Belbazem Offshore Block field development
5/25/2021
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Abu Dhabi, UAE – ADNOC announced the award of a $744 million (AED2.73 billion) contract for the full field development of the Belbazem Offshore Block, underscoring its drive to unlock and maximize value from all of Abu Dhabi’s fields as it expands its oil production capacity to 5 million barrels per day by 2030. Located 120 kilometers northwest of Abu Dhabi city, the Belbazem Block consists of three so-called marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou.
Al Yasat Petroleum Operations Company Ltd (Al Yasat), ADNOC’s subsidiary and joint venture with China National Petroleum Corporation (CNPC), awarded the engineering, procurement and construction (EPC) contract to the National Petroleum Construction Company (NPCC). ADNOC and CNPC hold 60% and 40% stakes in Al Yasat respectively, underpinning the strong bilateral ties and energy partnership between the United Arab Emirates (UAE) and China.

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