Abu Dhabi energy firm to raise production to one million barrels a day before concession expires in 2018
Abu Dhabi Marine Operating Company (Adma-Opco) is aiming to raise its production to one million barrels a day (b/d) by the time its present concession expires in 2018, MEEDs Abu Dhabi 2013 Conference was told on 9 December.
Adma-Opcos chief executive officer Ali al-Jarwan said the number of offshore rigs being used in Abu Dhabi National Oil Company (Adnoc) group companies would rise to 80 from the current 40 to deliver the Abu Dhabis target increase in sustainable oil production capacity to 3.5 million b/d.
Al-Jarwan said 73 per cent of Adnocs procurement in 2012 was done through the Abu Dhabi market.
For the oil sector this year, there were about $10bn awards for contracts, $6bn of that for offshore fields, he said. Adnoc is also spending on upgrading and on state-of-the-art technology and automation. Adnoc is trying to be in the top 10 oil and gas companies worldwide, in terms of volume and efficiency, so we emphasis operational excellence in everything we do.
Of the gas produced in association with oil, 98.5 per cent is captured and use.
In refineries, we are recycling all residual oil and have 100 per cent efficiency in extracting components from the hydrocarbons systems, said Al-Jarwan.
Asked about the future of the Adma-Opco concession, Al-Jarwan said a competitive process is being used to deal with Abu Dhabis onshore concession and that he assumed a similar approach would be adopted for the Adma-Opco concession. Adma-Opco operates two major fields: Umm Shaif and Zakum.
More from MEEDs Abu Dhabi Conference
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- Etihad Rail to award phase 2 before second quarter of 2014
- Abu Dhabi to double oil rig count over two years
- Abu Dhabi airport looking to record passenger traffic of 16 million in 2013
- Passenger numbers at Abu Dhabi airport to more than double by 2020
- Abu Dhabis Zonescorp plans further major expansions
- Next year to be Abu Dhabis year of industry
- Abu Dhabi increases focus on farming
- Abu Dhabi seeks to promote energy efficiency
- Abu Dhabi expands street signage programme with smart codes
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