Representational Image UAE state-owned oil company, Abu Dhabi National Oil Company (ADNOC) has awarded a $946 million Engineering, Procurement, and Construction (EPC) contract to Abu Dhabi’s National Petroleum Construction Company (NPCC) for the strategic long-term development of its Umm Shaif field. The investment supports ADNOC’s oil production capacity plans of five million barrels per day (mmbpd) by 2030 while ensuring energy security for the UAE and partners around the world. The ‘Long-Term Development Plan – Phase 1’ (LTDP-1) EPC contract awarded by ADNOC Offshore will cover the engineering, procurement, fabrication, installation and commissioning activities required to maintain Umm Shaif’s 275,000 barrels per day crude oil production capacity, increase efficiencies and enhance the field’s long-term potential. Over 75 percent of the total award value will flow back into the UAE economy under ADNOC’s In-Country Value (ICV) program, ensuring that more economic value remains in the country from the contracts it awards. This strengthens ADNOC’s commitment to the UAE’s ‘Principles of the 50’, the economic blueprint for sustainable growth announced by the UAE’s leadership in 2021. Yaser Saeed AlmazroueiUpstream Executive DirectorADNOC “This important award for the long-term development of ADNOC’s pioneer offshore Umm Shaif field will maximize efficiencies while maintaining future output…
