Abu Dhabi’s ADNOC awards $744m EPC contract to NPCC
The development will enable the Belbazem offshore block to achieve a crude oil production capacity of 45,000 bpd with first oil expected in 2023
by Zainab Mansoor
May 25, 2021
UAE state-owned energy company Abu Dhabi National Oil Company (ADNOC) has awarded a $744m (Dhs2.73bn) contract for the full field development of the Belbazem Offshore Block.
Al Yasat Petroleum Operations Company (Al Yasat), ADNOC’s subsidiary and joint venture with China National Petroleum Corporation (CNPC), awarded the contract to the National Petroleum Construction Company (NPCC). The block consists of three offshore fields – Belbazem, Umm Al Salsal, and Umm Al Dholou.
UAE: ADNOC awards USD744 million contract for full field development of the Belbazem Offshore Block
25 May 2021
EPC contract awarded by Al Yasat Petroleum, ADNOC’s joint venture with CNPC, after a competitive tender process
65% of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value program
Award will enable Belbazem to achieve crude oil production capacity of 45,000 bpd with first oil expected in 2023
$190 million (AED697.3 million) in CAPEX savings enabled through cost optimization achieved in FEED design
The
$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 (mmbpd) by 2030. Located 120 kms northwest of Abu Dhabi city, the
ADNOC Awards $744 Million Contract for Full Field Development of the Belbazem Offshore Block
édité le 25/05/2021 - Plus de news de ADNOC - Voir la fiche entreprise de ADNOC
The Abu Dhabi National Oil Company (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 Dhabis fields as it expands its oil production capacity to 5 million barrels per day (mmbpd) 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.
By Reuters Staff
1 Min Read
DUBAI (Reuters) - Abu Dhabi-headquartered National Petroleum Construction Company (NPCC) has been awarded a $744 million local oilfield development contract, state news agency WAM reported on Tuesday, citing state-owned Abu Dhabi National Oil Co (ADNOC).
The engineering, procurement and construction contract is for the for the full field development of the Belbazem Offshore Block in Abu Dhabi, WAM said.
The contract awarded by Al Yasat Petroleum Operations Company, a joint venture between ADNOC and China National Petroleum Corporation (CNPC).
Writing by Alexander Cornwell, editing by Louise Heavens
OE Staff Credit: ADNOC
Abu Dhabi s national oil firm ADNOC on Tuesday announced the award of a $744 million contract for the full field development of the Belbazem Offshore Block to the National Petroleum Construction Company (NPCC).
The contract was awarded by Al Yasat Petroleum Operations Company Ltd (Al Yasat), ADNOC’s subsidiary and joint venture (JV) with China National Petroleum Corporation (CNPC).
According to ADNOC, the award is in line with the company s plan to expand its oil production capacity to 5 million barrels per day (mmbpd) by 2030. ADNOC and CNPC hold 60% and 40% stakes in Al Yasat respectively.
Located 120 kilometers northwest of Abu Dhabi city, the Belbazem Block consists of three marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou.
NPCC wins $744m contract for Abu Dhabi offshore project
ABU DHABI, 5 days ago UAE-headquartered National Petroleum Construction Company (NPCC) said it has won a $744-million engineering, procurement and construction (EPC) contract for the full field development of the Belbazem Offshore Block in Abu Dhabi. The contract was awarded by Al Yasat Petroleum Operations Company, a joint venture between Abu Dhabi National Oil Company (Adnoc) and China National Petroleum Corporation (CNPC) Located 120 km northwest of Abu Dhabi city, the Belbazem Block consists of three marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou. Adnoc and CNPC hold 60 per cent and 40 per cent stakes in Al Yasat respectively, underpinning the strong bilateral ties and energy partnership between the UAE and China.
ADNOC awards $744 mil contract to develop offshore block amid oil capacity boost
Abu Dhabi National Oil Co. has awarded a $744 million contract to UAE-based National Petroleum Construction Corp., or NPCC, to develop an offshore block, as part of plans of hitting 5 million b/d oil production capacity by 2030.
Al Yasat Petroleum Operations Co. an ADNOC joint venture with China’s CNPC awarded the engineering, procurement and construction contract to NPCC, ADNOC said in a statement May 25. ADNOC has a 60% stake in Al Yasat and CNPC the remaining.
The block, which is expected to produce first oil in 2023, comprises three offshore fields: Belbazem, Umm Al Salsal and Umm Al Dholou. The contract includes developing the block’s full production capacity of 45,000 b/d of light crude with API gravity of around 35 degrees and 27 MMcf/d of associated gas.
ADNOC announced on Tuesday the award of a $744 million contract for the full field development of the Belbazem Offshore Block.
The Abu Dhabi National Oil Company (ADNOC) announced on Tuesday the award of a $744 million (AED2.73 billion) contract for the full field development of the Belbazem Offshore Block.
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). The scope of the award covers engineering, procurement, construction, and commissioning activities for the offshore facilities required to enable full production capacity of 45,000 barrels per day of light crude and 27 million standard cubic feet per day of associated gas from Belbazem, ADNOC outlined. First oil from the asset is expected in 2023.