Correct crude gravity in second paragraph
Abu Dhabi's state-owned Adnoc has awarded a $744m contract for the development of three offshore oil fields to domestic firm National Petroleum Construction (NPCC). The project will boost the UAE's crude capacity by 45,000 b/d by the end of 2023.
The three fields — Belbazem, Umm al-Salsal and Umm al-Dholou — are being developed by Al-Yasat, a 60:40 joint venture between Adnoc and and China's state-owned CNPC. They will produce light crude with a gravity of around 35°API, as well as 27mn ft³/d of associated gas, and will be connected to Zirku Island, around 60km from Belbazem, for processing and export. The block contains two other fields, Bu Haseer and Arzanah. Bu Haseer came on stream in 2018.
To meet Abu Dhabi's target to increase crude production capacity to 5mn b/d by 2030, Adnoc is looking to develop several fields that would have been considered marginal in the past. "Al-Yasat will continue to drive cost efficiencies as we unlock value from those of Abu Dhabi's fields which are comparatively smaller and require a lean operating model to optimise their production and value potential," said Shaheen al-Mansouri, the joint venture's acting chief executive.
Al-Yasat introduced a streamlined tendering process to improve project economics. It reduced the tendering time by as much as 12 months and shaved approximately $190m off the cost, Adnoc said.
