Arab News

DUBAI: The Abu Dhabi National Oil Company (ADNOC) has awarded a $744 million contract for the full field development of the Belbazem Offshore Block as it expands its production capacity to 5 million barrels per day (bpd) by 2030.

Located 120 kilometers northwest of Abu Dhabi city, the Belbazem Block consists of three marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou.

ADNOC unit Al Yasat Petroleum Operations Company and joint venture with China National Petroleum Corporation awarded the engineering, procurement and construction contract to the National Petroleum Construction Company (NPCC).

ADNOC and CNPC hold 60 percent and 40 percent stakes in Al Yasat respectively.

The EPC contract award follows a competitive tender process and will see 65 percent of the award value flow back into the UAE economy under ADNOC’s In-Country Value (ICV) program, the Abu Dhabi oil company said in a statement carried by the WAM news agency.

The scope of the award covers engineering, procurement, construction, and commissioning activities for the offshore facilities required to enable full production capacity of 45,000 bpd of light crude.