Abu Dhabi National Oil Company (Adnoc) is poised to launch a key expansion project at its giant Upper Zakum offshore oilfield, aimed at ramping up the asset’s oil production to 1 million barrels per day.
Multiple people familiar with the development told Upstream that the Emirati giant is expected to soon launch the tender process for its UZ 1000 project.
The scheme has been on the back burner for the past two years but is now said to have gained momentum on the back of high oil prices and improved market fundamentals.
