BGP Secures $1.6B ADNOC Seismic Survey Work
The Abu Dhabi National Oil Company (ADNOC) announced Thursday that it has awarded contracts worth $1.6 billion (AED 5.88 billion) to a China National Petroleum Company (CNPC) affiliate for “the world’s largest continuous 3D onshore and offshore seismic survey”.
The new seismic survey will add to the 2D and 3D data already acquired across Abu Dhabi, covering an area of up to 11,583 square miles (30,000 square kilometres) offshore and 8,880 square miles (23,000 square kilometres) onshore. The contracts were awarded to BGP Inc., a subsidiary of CNPC.
Scheduled for completion by 2024, the survey will utilize seismic streaming vessels and ocean bottom nodes to acquire data in Abu Dhabi waters, and vibrator trucks for onshore desert areas.
“The scale of the project shows ADNOC’s commitment to upstream investment and to bolstering our oil and gas reserves and production for the long-term,” Sultan Ahmed Al Jaber, UAE minister of state and ADNOC Group CEO, said in a company statement.
“The award, following a highly competitive bid process, also represents another key milestone in ADNOC’s thriving partnership with CNPC, and the UAE’s strategic energy partnership with China,” he added.
Wang Yilin, Chairman of CNPC, said the company was “delighted” to be awarded the contracts.
“ADNOC has embarked on an ambitious project to explore and unlock hydrocarbon reserves and BGP is best placed to bring industry leading technology to Abu Dhabi to support this program,” Yilin said in a company statement.
“This agreement also strengthens our growing and successful relationship with ADNOC, creating a platform for further energy collaboration between us,” Yilin added.
Earlier this month, ADNOC revealed that it aimed to deepen investment and partnership opportunities with Chinese energy majors.
ADNOC is the 12th largest producer in the world with an output of 3 million barrels per day, according to its website.