ADNOC Awards $1.17B Deal For 13 Jack-Up Barges
Abu Dhabi National Oil Company (ADNOC) has awarded a $1.17 billion contract for the hire of 13 self-propelled jack-up barges to support the expansion of its crude oil production capacity to 5 million barrels per day by 2030.
The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services (ADNOC L&S). Over 80 percent of the award value will flow back into the UAE’s economy.
The 13 self-propelled jack-up barges are multi-purpose assets that enable rig-less operations and maintenance provided by ADNOC L&S. The barges, which will be deployed across ADNOC’s offshore fields, are equipped to support a wide scope of operations, including project work, maintenance, and accommodation.
“This significant award to ADNOC Logistics & Services will help deliver our production capacity expansion offshore and directly support ADNOC’s strategic growth objective of 5 million barrels of daily oil production capacity by 2030. ADNOC L&S have a proven track record in the industry and their best-in-class expertise, together with the ready availability of these self-propelled jack-up barges, will help us drive efficiencies and flexibility while cementing ADNOC’s position as a leading low-cost and low carbon energy producer.”
“Critically, the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of UAE’s economy in line with the directives of our wise leadership,” Ahmad Saqer Al Suwaidi, ADNOC Offshore CEO, said.
The self-propelled jack-up barges will be hired along with manpower and equipment. The barges will be utilized for rig-less well intervention and pre- and post-drilling operations, as well as for topside maintenance and integrity restoration activities at our offshore assets.
Instead of these services being provided through several operationally specific contracts, all requirements have been unified in line with ADNOC’s approach of centralizing procurement and operational logistics management. This provides ADNOC Offshore and its strategic partners with operational flexibility while enabling cost efficiencies and single-point responsibility by ADNOC L&S.
“We are extremely proud to continue the decades-long relationship between ADNOC Offshore and ADNOC Logistics & Services. We are committed to continuing to seize growth opportunities and deliver more value to ADNOC and this announcement is another milestone in that journey. These vessels represent an important opportunity for growth and diversification for ADNOC L&S and will be a critical enabler of ADNOC Offshore’s growth,” Abdulkareem Al Masabi, ADNOC Logistics & Services CEO, added.
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