Jan 20 | 2020
(MENA) US$8 Billion in EPC Contracts
Energy group Abu Dhabi National Oil Co. is preparing to award an estimated US$8 billion in new engineering, procurement and construction contracts for development work at its Upper Zakum offshore project.
More than 24 companies have submitted bids for the extensive expansion project, with the new phase of growth expected to drive significant breakbulk activity across the field, located 84 kilometers northwest of Abu Dhabi Islands.
EPC work has been divided into two overarching packages, with the first phase focusing on development of surface facilities, and the second phase constructing pipelines and subsea infrastructure.
Commissioning 2023
ADNOC expects to qualify and finalize bids for the packages by the end of the second quarter and award the contracts in the third quarter of 2021.
Breakbulk transport for the construction phase is then scheduled to take place in the fourth quarter of 2022, with the UZ1000 project expected to be commissioned in the third quarter of 2023.
As the state-owned oil company of the UAE, ADNOC controls some of the largest oil and gas reserves in the world and is ranked as one of the largest oil companies by production.
2030 Sustainability Strategy Launched
All work for the UZ1000 is expected to meet the company’s new sustainability agenda, which was launched earlier this month in Abu Dhabi.
Outlining ADNOC’s vision to become “a best-in-class leader in sustainability,” the 2030 Sustainability Strategy lays out benchmarks “for safety and asset integrity.”
“ADNOC will continue to prioritize sustainability and make significant investments in new and innovative technologies and partnerships ... It is our clear aim to not just follow the guidelines and principles declared today, but for ADNOC to be a leading contributor to the UAE’s efforts in promoting a sustainable agenda.” Ahmed Jasim Al Zaabi, chief financial officer of ADNOC, said at the launch.
More than 24 companies have submitted bids for the extensive expansion project, with the new phase of growth expected to drive significant breakbulk activity across the field, located 84 kilometers northwest of Abu Dhabi Islands.
EPC work has been divided into two overarching packages, with the first phase focusing on development of surface facilities, and the second phase constructing pipelines and subsea infrastructure.
Commissioning 2023
ADNOC expects to qualify and finalize bids for the packages by the end of the second quarter and award the contracts in the third quarter of 2021.
Breakbulk transport for the construction phase is then scheduled to take place in the fourth quarter of 2022, with the UZ1000 project expected to be commissioned in the third quarter of 2023.
As the state-owned oil company of the UAE, ADNOC controls some of the largest oil and gas reserves in the world and is ranked as one of the largest oil companies by production.
2030 Sustainability Strategy Launched
All work for the UZ1000 is expected to meet the company’s new sustainability agenda, which was launched earlier this month in Abu Dhabi.
Outlining ADNOC’s vision to become “a best-in-class leader in sustainability,” the 2030 Sustainability Strategy lays out benchmarks “for safety and asset integrity.”
“ADNOC will continue to prioritize sustainability and make significant investments in new and innovative technologies and partnerships ... It is our clear aim to not just follow the guidelines and principles declared today, but for ADNOC to be a leading contributor to the UAE’s efforts in promoting a sustainable agenda.” Ahmed Jasim Al Zaabi, chief financial officer of ADNOC, said at the launch.
