The Abu Dhabi National Oil Company (ADNOC) announced Friday the award of a contract worth up to $519 million (AED1.9 billion) to further expand the scope of the world’s largest combined three-dimensional (3D) onshore and offshore seismic survey, which is currently taking place in the Emirate of Abu Dhabi.
The expansion underscores the important role seismic surveying plays in enabling ADNOC to identify and explore new hydrocarbon resources as highlighted by the recent major discoveries of recoverable unconventional oil resources and conventional oil reserves announced by Abu Dhabi’s Supreme Petroleum Council (SPC) earlier this week.
In addition, this mega seismic survey also supported the discovery of the conventional oil and gas reserves and the unconventional gas resources added to ADNOC’s portfolio in 2019.
The contract was awarded to BGP Inc., a subsidiary of China National Petroleum Company (CNPC), represented in the UAE by Al Masaood Oil Industry Supplies & Services Co.
This new award brings the total area to be covered by the survey up to 85,000 km2 and reinforces ADNOC’s commitment to unlocking the full potential of Abu Dhabi’s vast hydrocarbon resources, state news agency
50% of the award value will flow back into the UAE’s economy under ADNOC’s In-Country Value (ICV) program, highlighting how ADNOC continues to prioritize ICV as it invests responsibly to deliver its 2030 strategy.
Yaser Saeed Al Mazrouei, ADNOC Upstream Executive Director, said: "This award builds on the solid progress we are making in executing the world’s largest combined 3D seismic survey which is an important part of our strategy to accelerate the exploration and development of Abu Dhabi’s hydrocarbon resources."
"It further demonstrates ADNOC’s commitment to realizing the full potential of our conventional and unconventional oil and gas resources to ensure the UAE remains a long-term and reliable energy provider to the world."
In July 2018, ADNOC awarded the first set of contracts for the seismic survey and has so far recorded almost 60% progress in executing the initial scope which includes onshore and offshore areas. The entire survey, including the added coastal scope, is on track to be completed in 2024.