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ADNOC Announces $1.17 Billion Contract for Jack-up Barges

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Abu Dhabi National Oil Company (ADNOC) announced today a $1.17 billion (AED4.3 billion) contract for the hire of 13 self-propelled jack-up barges to drive offshore operational efficiencies and support the expansion of its crude oil production capacity to five million barrels per day (mmbpd) by 2030.

The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services (ADNOC L&S) and underpins the world-class capabilities within ADNOC’s group companies. Over 80% of the award value will flow back into the UAE’s economy under ADNOC’s successful In-Country Value (ICV) program, supporting local economic growth and diversification.

The 13 self-propelled jack-up barges are multi-purpose assets that enable rig-less operations and maintenance with single point responsibility provided by ADNOC L&S, enabling enhanced efficiencies. The barges, which will be deployed across ADNOC’s offshore fields, are equipped to support a wide scope of operations, including project work, maintainance and accommodation.

Information Source: Read More

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