MEOG: ADNOC affiliates win more work

Abu Dhabi National Oil Co.’s (ADNOC) Logistics & Services arm was this week awarded a $1.17bn deal to provide barges to support the parent firm’s upstream expansion. The award will see ADNOC L&S lease 13 self-propelled jack-up barges to ADNOC for a period of five years, enabling rig-less operations and maintenance, alongside “manpower and equipment”.

The announcement follows a multi-billion-dollar spate of recent contract awards by the state oil giant to its ADNOC L&S and ADNOC Drilling subsidiaries as the companies reap the benefits of vertical integration and the development of the UAE’s oilfield services sector.

Ahmad Saqer Al Suwaidi, CEO of ADNOC Offshore, said ADNOC L&S has a “proven track record in the industry and “the ready availability of these self-propelled jack-up barges will help us drive efficiencies and flexibility while cementing ADNOC’s position as a leading low-cost and low-carbon energy producer.”

As in other recent contract awards, an ADNOC press statement referred to the deal’s support for the company’s strategic objective of raising oil capacity from around 4.2mn barrels per day at present to 5mn bpd by 2030.