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The Umm Shaif investment works to further ADNOC’s plan to increase oil production capacity and strengthen its energy independence.

RIYADH: The Abu Dhabi National Oil Co. (ADNOC), announced today, an investment of up to $318 million to connect newly drilled smart wells to the main production facilities at Bu Hasa, WAM reported. This will sustain a 650,000 barrels per day (bpd) production capacity at ADNOC’s largest onshore asset. The engineering, procurement and construction (EPC) contract has been awarded in two packages by ADNOC’s subsidiary, ADNOC Onshore.  Package 1 is valued at up to $158.6 million  and has been awarded to China Petroleum Pipeline Engineering Co. Ltd, while Package 2, with a value of up to $159...

"This EPC award demonstrates how Adnoc is leveraging advanced technologies, such as smart wells with state-of-the-art remote capabilities, to drive higher performance from our assets and resources, and to generate additional value," said Adnoc upstream executive director Yaser Saeed Almazrouei. Bu Hasa is one of Adnoc ’s oldest oil fields located 200 kilometers south of Abu Dhabi city. It has been producing oil since 1965. In 2018, Adnoc awarded a contract for the Bu Hasa Integrated Field Development Project to increase the production capacity of the asset to 650,000 barrels per day and sus...