Abu Dhabi oil giant ADNOC awards contracts of Dh1.16b for massive Bu Hasa project
Contracts will connect newly drilled smart wells to Bu Hasa production facilities
Dubai: The Abu Dhabi energy giant ADNOC will invest up to Dh1.16 billion to connect the newly drilled "smart wells" to its main production facilities at Bu Hasa, which will sustain production capacity of 650,000 barrels per day (bpd). Bu Hasa is ADNOC’s largest onshore asset.
The engineering, procurement and construction (EPC) contract has been awarded in two packages by a subsidiary, ADNOC Onshore. Package 1 is valued at up to Dh582 million and has been awarded to China Petroleum Pipeline Engineering Co., while Package 2, with a value of up to Dh583.9 million to Robt Stone llc. The duration of the contracts is three years, with the option of a two-year extension.
The EPC award follows a competitive tender process and will see over 50 per cent of the combined value of both awards flow back into the UAE economy under ADNOC’s 'in-country value' programme. "The award underpins our strategic objectives to expand production capacity and create a more profitable upstream business with over half of the contract value flowing back into the UAE’s economy, supporting local businesses and stimulating economic growth," said Yaser Saeed Almazrouei, ADNOC Upstream's Executive Director.