ADNOC grants a 4.3-billion-dirham lease for self-propelled platforms.

The Abu Dhabi National Oil Company (ADNOC) announced yesterday that it had been given a contract worth 4.3 billion dirhams ($1.17 billion) to lease 13 self-propelled platforms. This will help the company’s offshore operations run more efficiently and will help it reach its goal of increasing its capacity to produce five million barrels of crude oil per day.

To increase the operating effectiveness of its operations, the Abu Dhabi National Oil Company (ADNOC) said yesterday that it had been awarded a contract worth 4.3 billion dirhams ($1.17 billion) to lease 13 self-propelled platforms.

According to a release, ADNOC Logistics and Services won the contract from ADNOC Maritime, demonstrating the top-tier skills of the ADNOC Group enterprises.

Through ADNOC’s effort to increase local added value during the course of the five-year contract, more than 80% of the contract’s total value will be directed to the local economy, supporting development and economic diversity in the nation.

The self-propelled platforms are versatile assets that allow ADNOC Logistics and Services to prepare, outfit, and maintain wells without a digger at the lowest possible cost and from a single site, improving the operational efficiency of the company’s marine operations.

Modern equipment on the platforms enables them to offer a variety of support services for ADNOC’s offshore fields, including the execution of operations, maintenance services, and lodging needs for field employees.

Ahmed Saqr Al-Suwaidi, CEO of ADNOC Offshore, said, “The contract that ADNOC Logistics and Services was given supports efforts to put ADNOC Off shore’s plans to increase its oil production capacity into action and directly advances ADNOC’s strategic goal, which is to increase its crude oil production capacity to five million barrels per day by 2030.

“This partnership enables us to take advantage of the services of self-propelled platforms to improve the flexibility of our operational operations and reduce costs, which helps to consolidate (ADNOC’s) leading position within the least expensive and carbon-intensive oil producers. (ADNOC Logistics and Services) has a demonstrated track record and extensive experience in the oil and gas sector.

Captain Abdul Karim Al-Masabi, the CEO of ADNOC Logistics and Services, said: “We are happy that the long-standing partnership of cooperation between (ADNOC Marine) and (ADNOC Logistics and Services). In order to succeed and raise the value of the (ADNOC) group, he continued, “(ADNOC Logistics and Services) is committed to always looking to take advantage of all growth prospects.”