ABU DHABI: Adnoc’s announcement regarding the award of a contract worth up to $490 million (AED1.79 billion) to BGP Inc, a subsidiary of China National Petroleum Company (CNPC), signifies a pivotal move in the exploration and development of oil and gas resources in the Emirate of Abu Dhabi.
The initiative, which expands the world’s largest combined three-dimensional (3D) onshore and offshore seismic survey currently underway, underscores Adnoc’s commitment to harnessing advanced technological solutions for enhanced resource management.
The primary objective of this contract is to identify additional oil and gas resources within Adnoc’s productive onshore fields. By employing advanced artificial intelligence (AI) tools, Adnoc and BGP aim to accelerate the interpretation of seismic data, thereby maximising resource recovery.
The integration of sophisticated technology not only optimises the existing infrastructure in the producing fields but also enhances operational efficiencies, positioning Adnoc as a forward-thinking leader in the global energy sector.
Meeting energy demand
A noteworthy aspect of this contract is its economic impact on the United Arab Emirates (UAE). Over 70 per cent of the award value is projected to flow back into the local economy under Adnoc’s In-Country Value (ICV) program.
The initiative highlights Adnoc’s dedication to fostering local economic growth and supporting industrial development, reinforcing its role as a reliable and responsible energy provider on the global stage.
Abdulmunim Saif Al Kindy, Adnoc’s Upstream Executive Director, articulated the company’s vision by stating that ADNOC aims to leverage industry-leading technologies to responsibly meet the escalating demand for energy.
The ongoing 3D Mega Seismic Survey, which commenced in late 2018, serves as a cornerstone for understanding the complex geological formations within the region and is integral to realising the full potential of the UAE’s oil and gas resources.
