News // Energy
ADNOC awards $1.6 billion contracts for world’s largest 3D seismic survey
19 July 2018 , 18:00Neftegaz.RU636
Abu Dhabi, July 19 - Neftegaz.RU. The Abu Dhabi National Oil Company (ADNOC) has awarded contracts worth AED 5.88 bln ($1.6 bln) for the world’s largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 square kilometers.
The agreement was signed on the eve of a State Visit to the UAE by China’s President Xi Jinping and Gou Liang, President of BGP. The signing was witnessed by Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, and Wang Yilin, CEO of CNPC.
Adding to the 2D and 3D seismic data already acquired across Abu Dhabi, the new seismic survey will cover an area of up to 30,000 km2 offshore and 23,000 km2 onshore. The contract has been awarded by ADNOC to BGP, a subsidiary of CNPC, who are represented in the UAE by Al Masaood Oil Industry Supplies & Services Co.
Using seismic streaming vessels and ocean bottom nodes to acquire data in Abu Dhabi waters, and vibrator trucks to survey the onshore desert areas, the survey is scheduled to be completed by 2024.
The UAE is one of the world’s largest oil and gas producers, with about 96% of its reserves within the emirate of Abu Dhabi. Located in one of the world’s largest hydrocarbon super-basins, there remains undiscovered and undeveloped potential in the numerous stacked reservoirs.
CNPC is one of ADNOC’s largest international partners, with 40-year stakes in Abu Dhabi’s major onshore and offshore concessions. It is also a 40% joint venture partner in Al Yasat Petroleum.
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