$3.5 billion deals signed to develop oil and gas fields.
Contracts awarded to develop Nasr Full Field Development projectAbu Dhabi: Abu Dhabi Marine Operating Company, also known as Adma-Opco, has signed three major contracts for Nasr Full Field Development project with National Petroleum Construction Company (NPCC), Hyundai Heavy Industries (HHI) and Technip, at an approximate total value of $3 billion.
The fourth agreement was signed for EPC work for additional gas supply valuing $494 million.
The Nasr development is a strategic initiative of Abu Dhabi National Oil Company (Adnoc) in line with its plans to add 270,000bpd of additional production from its new fields Umm Lulu, Nasr and Satah Al Razboot (SARB).
The hydrocarbons reservoir known as Nasr Field is located offshore, 131kms north-west of Abu Dhabi city, and is being developed by Adma-Opco in two phases.
The EPC Contract for phase-I was awarded in July 2011; two wellhead towers and a manifold tower constructed under this contract are in the final stages of completion. The contracts signed are for phase II or the "Full Field Development" stage of the project. It is anticipated that upon successful completion of phase II, Nasr field will yield an annual average production of 65MSTBOPD of crude oil.
The start-up of the project is scheduled to be achieved by end of 2018 and final commissioning by second half of 2019. In addition to SARB and Umm Lulu, Nasr is the third offshore hydrocarbon reservoir being developed by Adma-Opco under its strategy to increase its production.
The additional 200MMSCFD gas would be in addition to the planned gas flow of 1,000MMSCFD realised under the already commissioned IGD project. The additional 200MMSCFD gas at Umm Shaif Super Complex (USSC) will be made available by increasing the total off-take level of US Khuff to 1,600MMSCFD by mid-2016 and up to 2025, which is against currently planned off take level of 1,400MMSCFD annual average from mid-2013 to mid-2028.
Contracts signing
The new contracts were signed by Ali Rashid Al Jarwan, chief executive officer (CEO) of Adma-Opco; Aqeel A. Madhi, CEO of NPCC; J. D. Kim, senior executive vice-president and COO, HHI; and Vaseem Khan, managing director of Technip France -- Abu Dhabi and president of Region Middle East, at the Adipec 2014.
The signing was witnessed by Ali Ghanim bin Hamoodah, SVP (P/E) Adma-Opco; Shaffique Al Dhiyebi, SVP at NPCC; S. H. Kim, executive vice-president, HHI; and Riccardo Moizo, SVP (PMC Business Unit), Technip.
The contract for the EPC Work of Nasr package one of the project was signed with NPCC, with a value of $792 million while the contract for EPC work of package two was signed with HHI with a value of $1.938 billion. The third contract, valuing $206 million, was signed with Technip for provision of project management consultancy services to the project.
Nasr package one entails construction of seven wellhead towers, laying of infield pipelines of a combined length of 110km, an excess gas pipeline of 32km and an export oil line of 70km.
The package two includes construction of Nasr Super Complex comprising an accommodation platform, a gas treatment platform and a separation platform. Work associated with supply of power to Nasr and existing Umm Shaif Super-Complex through sub-sea cables from power generation facilities at ADMA-OPCO's Das Island and the construction of a power distribution platform at Umm Shaif Super Complex, also covered under the package.
"These key projects come under the guidance of Abu Dhabi Government and the support of the SPC and the shareholders," said Al Jarwan, stressing that the entire project is in line with Adnoc's plans to ensure sustained oil production.
He said this project is one of the biggest projects ever.
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| Publication: | Khaleej Times (Dubai, United Arab Emirates) |
|---|---|
| Geographic Code: | 7UNIT |
| Date: | Nov 12, 2014 |
| Words: | 626 |
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