ExxonMobil and its partners plan to build four artificial islands
ExxonMobil and its partners plan to build four artificial islands in the Upper Zakum oilfield off the coast of Abu Dhabi, UAE, which will result in huge cost savings.
ExxonMobil Abu Dhabi Offshore Petroleum president Morten Mauritzen said that construction and use of the islands may allow for the removal of 100 wellhead towers in the sea and make cost savings of between $1bn and $15bn.
Zakum Development (Zadco) is planning a $15bn artificial islands project to boost production at the field by 40% to 750,000 barrels a day.
Zadco’s major projects manager Salah Al-Bufalah said that building islands is cheaper than erecting offshore production platforms.
The cost savings would be realised over the 25 years remaining for commercial production at Upper Zakum, where Zadco is pumping crude.
Abu Dhabi National Oil Co (Adnoc) has a 60% stake in Zadco, ExxonMobil holds 28% and Japan Oil owns the remaining share.