althurayya@althurayya.ae

althurayya@althurayya.ae

 +971 2 644 2304

+971 2 644 2304

Abu Dhabi - United Arab Emirates

Abu Dhabi - United Arab Emirates

State-owned Adnoc awarded a Dh3.47 billion ($946 million) contract to Abu Dhabi’s National Petroleum Construction Company (NPCC) to develop its offshore Umm Shaif oilfield, a move that backs the company’s plans to boost production by 2030. Adnoc Offshore awarded the contract, which covers the engineering, procurement, fabrication, installation and commissioning activities required to maintain Umm Shaif’s crude production capacity of 275,000 barrels per day, improve efficiencies and enhance the field’s long-term potential, Adnoc said on Wednesday. “This important award for the long-term development of Adnoc’s pioneer offshore Umm Shaif field will maximise efficiencies while maintaining future output and supporting Adnoc’s strategic objective of 5 million barrels of oil production capacity a day by 2030,” Adnoc Upstream’s executive director Yaser Almazrouei said. “The development plan for Umm Shaif underpins Adnoc’s commitment to maintain its position as a leading low-cost oil producer and strengthens our role as a reliable energy provider to customers around the world”. The state oil producer plans to significantly increase its investment in hydrocarbons. It has awarded a number of contracts to different companies to increase its output capacity to 5 million barrels per day by 2030.