ADMA-OPCO signs massive $3.5bn Nasr & Umm Shaif deals

ADMA-OPCO signed three major deals on Tuesday worth some US$3.5 billion to boost output from its Nasr field offshore Abu Dhabi.

The deal spans three contract packages which were handed to NPCC, Hyundai Heavy Industries (HHI) and Technip.

Package 1 for EPC work on seven wellhead towers at the field is said to be valued at $792 million; the second package – also for EPC work, worth $1.938 billion was given to HHI. Technip was given the third contract worth $206 million to provide project management and consulting (PMC) services for the development.

Start-up of the project is scheduled to be achieved by end of 2018 and final commissioning by the second quarter of 2019.

NPCC also won a fourth contract for EPC work to boost gas supply from the offshore Umm Shaif Super Complex for approximately $494 million.

“These key projects come under the guidance of Abu Dhabi Government and the support of the SPC and the Shareholders,” said Ali Rashid Al-Jarwan, CEO of ADMA-OPCO, stressing that the entire project is in line with ADNOC’s plans to ensure sustained oil production, while maintaining highest HSE standards.

“We are proud of our strategic and long standing partnership with NPCC, Hyundai and Technip and hope that the project would be completed as per the set schedule and quality standards.”

The deals were signed by Al-Jarwan, Aqeel A. Madhi, CEO, NPCC; J. D. Kim, senior executive vice president & COO, HHI, and Vaseem Khan, managing director of Technip, Abu Dhabi and president for Middle East.

The Nasr field deal represents ADMA-OPCO’s efforts to have a combined production of 270,000 bpd from the Nasr, Umm Lulu and Satah Al Razboot (SARB) fields. It forms part of ADNOC’s plan to raise crude production to 3.5 million bpd by 2018 – ADMA-OPCO is expected to contribute for half of this at about 1.75 million bpd.

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Source: Pipeline Oil & Gas Magazine

2014-11-12T12:32:44+00:00November 12th, 2014|