Abu Dhabi National Oil Company (Adnoc) has awarded a $1.17 billion contract to compatriot Adnoc Logistics & Services (L&S) for the charter of 13 self-propelled jack-up barges, to support the expansion of its crude oil production capacity.
The state-controlled giant confirmed the deal on Thursday, saying it is for five years, with more than 80% of the award value set to flow back into the United Arab Emirate’s economy under its in-country value (ICV) localisation programme.
“The 13 self-propelled jack-up barges are multipurpose assets that enable rigless operations and maintenance with single point responsibility provided by Adnoc L&S, enabling enhanced efficiencies,” the operator said.
The barges that will be deployed across Adnoc’s offshore fields, “are equipped to support a wide scope of operations, including project work, maintenance and accommodation”, the company noted.
Adnoc Offshore chief executive Ahmad Saqer Al Suwaidi said the award will help deliver the company’s “production capacity expansion in the offshore and directly support Adnoc’s strategic growth objective of 5 million bpd of oil production capacity by 2030”.
Al Suwaidi noted that the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of the UAE’s economy.
Zakher Marine acquisition
Adnoc L&S, recently announced it will be acquiring UAE-based offshore support services player Zakher Marine International (ZMI) to strengthen its presence in offshore wind and regional oilfield services.
The deal, of an undisclosed value, expands Adnoc L&S’ fleet to more than 300 vessels, with the services extending to include critical support assets for offshore operations, and ZMI’s maiden offshore renewables foray in China.
On completion of the transaction, Adnoc L&S will add 24 jack-up barges and 38 offshore support vessels from ZMI to its fleet, expanding the scope of its offshore support operations.
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