0M Contract Granted for Expansion of Mega 3D Project
Adnoc Expands Ambitious 3D Seismic Survey with 0 Million Contract Award
In a significant advancement for the United Arab Emirates’ energy sector, the Abu Dhabi National Oil Company (Adnoc) has announced the award of a substantial 0 million contract to BGP, a subsidiary of the China National Petroleum Corporation (CNPC). This agreement, disclosed on November 6, 2023, is aimed at expanding the world’s largest ongoing combined three-dimensional (3D) seismic survey, which encompasses both onshore and offshore areas of Abu Dhabi.
The initiative represents an essential part of Adnoc’s strategy to enhance its exploration capabilities by identifying additional oil and gas resources within its productive onshore fields. The scale and complexity of this project reflect the organization’s commitment to innovation in resource management and sustainable energy practices.
The current contract highlights a robust partnership between Adnoc and BGP, leveraging advanced technologies that incorporate artificial intelligence (AI) to accelerate the interpretation of seismic data. This technological integration is not only expected to maximize resource recovery but also to optimize the use of existing infrastructures in active fields. By doing so, it aims to improve operational efficiency—an increasingly critical factor in the highly competitive global energy market.
Abdulmunim Saif Al Kindy, Adnoc’s Executive Director for Upstream operations, articulated the vision behind this investment, stating, “Adnoc continues to capitalize on industry-leading technologies to maximize value creation and responsibly meet growing demand for energy.” He added, “Our investment in the world’s largest 3D Mega Seismic Survey emphasizes the role advanced technologies play in our operations, as we continue to realize the full potential of our oil and gas resources to ensure the UAE remains a long-term and reliable energy provider to the world.”
The fundamental objective of the seismic survey project, which commenced in late 2018, was to provide unprecedented insights into the geological complexities of the region. Spanning an expansive area of 85,000 square kilometers, this survey is designed to deliver high-resolution 3D seismic data, enhancing the understanding of subsurface structures and assisting in making informed decisions regarding exploration and enhancement activities.
Moreover, the economic implications of this contract extend beyond the technical aspects of seismic exploration. Over 70% of the award value is projected to contribute back to the UAE economy through Adnoc’s In-Country Value (ICV) program. This initiative underscores Adnoc’s steadfast commitment to bolstering local economic growth and contributing to the industrial advancement of the United Arab Emirates. Through fostering local partnerships and investments, Adnoc aims to augment its role not just as a global energy provider but also as a conscious facilitator of economic resilience within the UAE.
The strategic emphasis on the ICV program is particularly critical as the UAE navigates the complexities of a post-pandemic economic landscape, striving to diversify its economy beyond oil and gas reliance. By channeling investments into local enterprises and skilled labor, Adnoc is not only enhancing its operational capacities but also supporting the UAE’s broader vision for sustainable economic development.
As the energy landscape continues to evolve, marked by increasing demand for sustainable practices and efficient resource management, initiatives like the massive 3D seismic survey serve as a testament to the UAE’s drive toward pioneering energy solutions. They reflect a proactive approach in harnessing cutting-edge technologies while simultaneously committing to the overarching goals of environmental stewardship and economic sustainability.
By combining advanced technology with a keen focus on local development, Adnoc is set to secure its position at the forefront of the global energy arena, showcasing that the pathway to sustainable energy production can coexist with robust economic growth.
In conclusion, the awarding of this contract showcases not only the technical progress in the energy sector but also the UAE’s commitment to fostering a resilient and innovative economy that supports both its local communities and international energy commitments.
Tags: #BusinessNews, #EconomyNews, #UAE
