The Abu Dhabi National Oil Company (ADNOC) has announced a substantial financial investment to update its Bab field, re-energizing one of its biggest onshore producing possessions to maintain and improve outcome. This is an essential step in the direction of distribution of the ADNOC group's 2030 smart development strategy that seeks to increase its petroleum production capacity and minimize price, producing an extra profitable upstream business.
ADNOC's strategies to update procedures at its developing Bab area will certainly enable production degrees to be continual and production capability to be increased from 420,000 barrels of oil per day to 450,000 barrels of oil daily by 2020. An Engineering, Procurement and Construction (EPC) agreement has actually been awarded to China Petroleum Engineering & Construction Company (CPECC), affiliated to China National Petroleum (CNPC), by ADNOC Onshore, ADNOC's subsidiary which runs the area, to carry out the works.
H.E. Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group Chief Executive Officer said: "The decision to modernise our production infrastructure at the big Bab field, is another clear signal that ADNOC is making smart investments to increase production capability, enhance the lasting performance and take full advantage of the earnings of Abu Dhabi's oil reserves, as we develop a much more profitable upstream business, in accordance with our Supreme Petroleum Council accepted 2030 growth strategy."
The asset upgrade will certainly include the deployment of cluster drilling, in which multiple oil wells are co-located in one place, for the first time at Bab, minimizing cost and the ecological impact of drilling procedures. At the very same time, digital oil area innovation will certainly be presented to remotely keep track of and analyse well performance. Application of advanced engineering and value-add technologies is fundamental to enhancing the success of ADNOC's upstream business, by driving operational efficiencies and making sure lasting production from its maturing fields.
Abdulmunim Al Kindy, Director of Upstream at ADNOC claimed: "CPECC has been picked to provide this crucial project after an incredibly competitive tendering procedure, ensuring we create the best worth from the investment called for at Bab and partner with an organization which can release effective engineering and value-add technologies that support our company-wide drive for greater efficiency and decreased expense while preserving highest possible safety and security standards.
" The Bab field already plays a vital role in attaining ADNOC's production ability target of 3.5 million barrels of oil daily throughout 2018. The deployment of advanced digital oil field administration innovations is an essential enabler if we are to optimize healing and deliver a more successful upstream business, as we change the company and balance performances with the right investments for growth."
In addition to upgrading the Bab production procedures, the investment will certainly boost water and gas handling abilities and provide an extra degassing and handling train, to be built together with the existing seven trains that problem petroleum for export.
Digital oil field automation and data driven infotech are changing the way ADNOC manages its properties. Success is being improved through higher field performance and predictability, increased production and reduced costs. Continuous surveillance offers a consistent real-time view of the condition and efficiency of a property, enhancing the decision-making procedure and eliminating time-consuming, non-value-adding tasks. Automation additionally brings about far better safety and security as remote tracking minimizes human and environmental direct exposure to risk in the area.