Leading domestic and international contracting giants are ready to battle for two prized offshore packages from Abu Dhabi National Oil Company (Adnoc), as the state-run company eyes further expansion of its huge Lower Zakum oilfield.
Adnoc is advancing multiple offshore developments as its plans to scale up its oil production capacity to 5 million barrels per day by 2027.
The target date for realising this ambition was recently brought forward from 2030, spurred by improved market fundamentals.
The recent Lower Zakum expansion, dubbed as the Early Production Scheme-2 (EPS-2), envisages increasing the field’s output by 50,000 bpd, ramping up its production capacity to 490,000 bpd in the coming years.
