Dr Sultan bin Ahmad Al Jaber and Wang Yilin watching a traditional Chinese Lion Dance in Abu Dhabi on Thursday.
Dubai - Survey, which will add to 2D and 3D data already acquired across Abu Dhabi, will cover an area of up to 30,000 sqkm offshore and 23,000 sqkm onshore
Published: Thu 19 Jul 2018, 9:13 PM
Updated: Sun 22 Jul 2018, 9:10 AM
bu Dhabi National Oil Company (Adnoc) announced on Thursday that it awarded a contract worth Dh5.88 billion for the world's largest continuous 3D onshore and offshore seismic survey, covering an area up to 53,000 sqkm to a subsidiary of China National Petroleum Company (CNPC).
The survey is part of the company continues drive to identify and unlock new opportunities and maximise value from its hydrocarbon resources and deliver on its 2030 smart growth strategy.
The new seismic survey, which will add to the 2D and 3D seismic data already acquired across Abu Dhabi, will cover an area of up to 30,000 sqkm offshore and 23,000 sqkm 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.
The agreement was signed on the eve of a state visit to the UAE by Chinese President Xi Jinping by Abdulmunim Al Kindy, Adnoc's upstream director, and Gou Liang, president of BGP. The signing was witnessed by Dr Sultan bin Ahmad Al Jaber, UAE Minister of State and Adnoc Group CEO, and Wang Yilin, chairman of CNPC.
Dr Al Jaber said the deployment of cutting-edge exploration technologies is an important step in realising the full potential of Abu Dhabi's conventional and unconventional oil and gas resources as we deliver on our 2030 smart growth strategy.
"The scale of the project shows Adnoc's commitment to upstream investment and to bolstering our oil and gas reserves and production for the long-term," Dr Al Jaber said.
The award, following a highly competitive bid process, also represents another key milestone in Adnoc's thriving partnership with CNPC, and the UAE's strategic energy partnership with China," he added.
Wang said with the world's largest onshore and offshore seismic survey, Adnoc has embarked on an ambitious project to explore and unlock hydrocarbon reserves and BGP is best-placed to bring industry-leading technology to Abu Dhabi to support this programme.
"This agreement also strengthens our growing and successful relationship with Adnoc, creating a platform for further energy collaboration between us."
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 per cent 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 per cent joint venture partner in Al Yasat Petroleum.
- issacjohn@khaleejtimes.com
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