• Natural Gas News

    Adnoc Expands World's Largest 3D Seismic Survey


The national oil company has awarded another contract worth $519mn.

by: Joe Murphy

Posted in:

Natural Gas & LNG News, Middle East, Premium, Corporate, Exploration & Production, Contracts and tenders, News By Country, United Arab Emirates

Adnoc Expands World's Largest 3D Seismic Survey

UAE national oil company Adnoc has awarded a contract worth $519mn to further expand the scope of what is already the world's largest 3D seismic survey, it reported on November 26.

The Abu Dhabi-based company said the survey would now span 85,000 km2 and include coastal areas, islands and shallow waters. The contract was issued to BGP, a subsidiary of China's CNPC, after a competitive tender. It builds on an original $1.6bn award to BGP in July 2018. The company has already completed 60% of the earlier-commissioned work, and the entire survey is expected to be finished in 2024.

Half of the contract's value will flow back into the UAE economy under Adnoc's in-country value programme, the state-owned producer said.

"This award builds on the solid progress we are making in executing the world's largest combined 3D seismic survey, which is an important part of the our strategy to accelerate the exploration and development of Abu Dhabi's hydrocarbon resources," Adnoc upstream director Yaser Saeed Al Mazrouei said in a statement.

It "further demonstrates Adnoc's commitment to realising the full potential of our conventional and unconventional oil and gas resources to ensure the UAE remains a long-term and reliable energy provider to the world," he said.

UAE is on a major push to expand its onshore oil and gas reserves, both conventional and unconventional. Adnoc recently announced a plan to invest $122bn over the next five years to help drive upstream growth, as well as build up the company's downstream, marketing and trading capabilities.

The 3D data that is acquired will provide high resolution images of complex subsurface structures at ultra-deep locations, helping to pinpoint potential hydrocarbon reservoirs. Adnoc will analyse the information at its Thamama subsurface centre.