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Adnoc invests $318 million to connect smart wells at Bu Hasa 18 May 2021 The EPC contract has been awarded in two packages by Adnoc’s subsidiary, Adnoc Onshore. The Abu Dhabi National Oil Company (Adnoc), announced on Tuesday an investment of up to $318 million (Dhs1.16 billion) to connect newly drilled smart wells to the main production facilities at Bu Hasa, which will sustain production capacity of 650,000 barrels per day (bpd) at Adnoc’s largest onshore asset. The engineering, procurement and construction (EPC) contract has been awarded in two packages by Ad...

Adnoc launches innovative programme 9 hours ago The Adnoc headquarters in Abu Dhabi. WAM The Abu Dhabi National Oil Company (Adnoc) announced recently that it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This programme supports Adnoc’s ongoing efforts to enhance its approach to procurement and maximise value for Adnoc and its community of suppliers and service providers. The programme standardises the terms and conditions for the procurement of drilling and oilfield goods and services across Adnoc’s entir...

The Abu Dhabi National Oil Company (Adnoc) has implemented an initiative to drive efficiencies in its tendering process to enhance its approach to procurement and maximise value for the company and its suppliers and service providers.

ADNOC has launched a program standardizing procurement terms and conditions across its value chain. PHOTO SOURCE: ADNOC The Abu Dhabi National Oil Co. (ADNOC) reported Tuesday that it has implemented an initiative standardizing procurement terms and conditions across its value chain. The new oilfield procurement process subjects all bidders to the same terms and conditions in competitive tendering and shrinks the timeline for legal negotiations from months to weeks, ADNOC pointed out in a written statement emailed to Rigzone. The firm added that more than 1,100 local and international princip...

Legal departments cut outside spending, focus on managers and specialists, study shows   Image from Shutterstock. The COVID-19 pandemic has pushed more legal departments to cut spending on outside counsel, according to a new report from global research and advisory firm Gartner Inc. For its 2021 State of the Legal Function report, Gartner surveyed 126 leaders of global legal departments this summer and found that 57% of their spending was staying in-house in 2020, compared to the 50.2% shown in its 2018 report. When these leaders needed to hire outside counsel, litigation comprised about 39...