Business

ADNOC has signed a $1.17 billion contract for jack-up barges

In order to drive offshore operational efficiency and expand crude oil production capacity to five million barrels per day (mmbpd) by 2030, Abu Dhabi National Oil Company (ADNOC) has agreed to pay $1.17 billion (AED4.3 billion) for the hiring of 13 self-propelled jack-up barges. The five-year contract was awarded by ADNOC Offshore to ADNOC Logistics & Services (ADNOC L&S) and highlights ADNOC’s world-class capabilities.

ADNOC has signed a $1.17 billion contract for jack-up barges
Photo for illustrative purposes only

Under ADNOC’s In-Country Value (ICV) programme, 80 percent of the award value will flow back into the UAE’s economy. With ADNOC L&S’s single-point responsibility, the 13 self-propelled jack-up barges enable rig-less operations and maintenance, enabling enhanced efficiency. Designed to support a wide range of operations, including project work, maintenance, and accommodation, the barges will be deployed across ADNOC’s offshore fields.

Related posts

South Korea FX reserves fall in March on stronger dollar

iraqnewsflash.com

British economy shrank record 11 percent in 2020, its lowest since 1709

iraqnewsflash.com

Musk needs 10 million more Twitter blue subscribers to pay off his loans

iraqnewsflash.com