Labour has been consulting investors about closing a tax break on carried interest ahead of a wider budget announcement in October
Adnoc announced on Wednesday that its offshore Satah Al Razboot (SARB) field has achieved a 25 per cent increase in production capacity through the implementation of industry-leading advanced digital technologies. The increase at SARB field, to a total of 140,000 barrels per day (bpd), supports Adnoc’s target to increase its production capacity to 5 million barrels of oil per day by 2027.
Located 120km northwest of Abu Dhabi, the digital solutions implemented onsite at SARB allow the field to be operated remotely from Zirku island, 20km away. Remote monitoring, smart well operations and production management technologies are integrated at the remote control center for optimised real-time decision-making. This has enabled the accelerated growth in field capacity with reduced costs and emissions. The field’s digitalisation will enable the deployment of additional AI solutions to further enhance and optimise operations.
SARB started operations in 2018 and is part of the SARB and Umm Lulu Concession, held by Adnoc, OMV, TotalEnergies and SOCAR and operated by Adnoc Offshore. As part of Adnoc’s plans to reduce its carbon intensity by 25 per cent by 2030, SARB has replaced gas turbine generators with a permanent power supply from Zirku island via high voltage subsea cables. The project, which was commissioned in 2020, is part of Adnoc’s strategy to electrify its offshore assets and reduce the carbon footprint of its offshore operations by up to 50 per cent.
Abdulmunim Saif Al Kindy, Adnoc upstream executive director, said: “AI and digitalisation are at the heart of Adnoc’s smart growth strategy to help responsibly meet the world’s growing energy demand. By deploying industry-leading technologies at SARB field, we have increased production capacity while enhancing the safety, sustainability and efficiency of our operations, strengthening Adnoc’s position as one of the world’s lowest-cost and least carbon intensive energy producers.”
The technologies that are deployed at SARB field include tools developed by AIQ, the Abu Dhabi-based AI champion delivering transformative solutions to the energy sector. AIQ solutions DrillRep and OptiDrill process data from rigs and wells at the field, enhancing drilling efficiency and optimisation. By utilising daily drilling data reports and rig sensor data, AIQ’s technology supports drilling operations with the necessary insights and actions to optimise the drilling process.
Labour has been consulting investors about closing a tax break on carried interest ahead of a wider budget announcement in October
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