UAE state-owned oil company, Abu Dhabi National Oil Company (ADNOC) is investing $187 million to increase the Al Nouf oilfield’s production capacity to 175,000 barrels per day (bpd) by 2024, up from 160,000 bpd now.
The UAE, OPEC’s third-largest producer, intends to improve output capacity to 5 million barrels per day by 2030, and the Al Nouf project is part of that, according to ADNOC.
The Nouf development’s engineering, procurement, and construction (EPC) contract have been granted to Abu Dhabi-based contracting firm Robt Stone for a period of 39 months. More than 75 percent of the contract’s value will be captured through the oil company’s in-country value program.
Over 20 additional wells will be added to the Al Nouf field, according to the state-owned powerhouse that pumps nearly all of the oil in the Emirates. To improve oil recovery, more water and gas injection will be used. Al Nouf field is located approximately 85 kilometers southwest of Abu Dhabi and has been producing since 2005.
The business granted contracts for $763.7 million in July to boost output from its offshore Upper Zakum and Satah Al Razboot (Sarb) projects. Over the previous few months, ADNOC has awarded over $1.5 billion in contracts to expand production capacity in Abu Dhabi’s onshore and offshore oilfields.
ADNOC also awarded the UAE’s National Petroleum Construction Company a $744 million contract to completely develop the offshore Belbazem block in May.
The engineering, procurement, and construction contract were awarded to ADNOC subsidiary Al Yasat, which is a joint project between the state-owned oil corporation and China National Petroleum Corporation.
The Belbazem block is being developed to produce 45,000 bpd of light crude per day, with the first barrel expected in 2023.
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