Adnoc has awarded a $1.17 billion contract to its Adnoc Logistics & Services (L&S) unit to provide 13 self-propelled jack-up barges.
The contract will run for five years. Adnoc said this would help deliver its 5 million barrel per day by 2030 target.
In addition to the barges, Adnoc will hire manpower and equipment, it said. They will work on rig-less intervention and drilling operations. They will also provide topside maintenance and integrity restoration.
More than 80% of the contract’s value will stay in the United Arab Emirates. This is in line with Adnoc’s in-country value (ICV) programme.
Adnoc Offshore CEO Ahmad Saqer Al Suwaidi said Adnoc L&S had a “proven track record in the industry and … best-in-class expertise”. The jack-up barges are ready, he said, helping Adnoc “drive efficiencies and flexibility while cementing ADNOC’s position as a leading low cost and low carbon energy producer. Critically, the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of UAE’s economy in line with the directives of our wise Leadership.”
Adnoc noted it had opted to sign one contract covering all its required services, rather than operationally specific awards. This, it said, was in line with its smart approach to centralised procurement.
Adnoc L&S CEO Captain Abdulkareem Al Masabi welcomed the contact. “These vessels represent an important opportunity for growth and diversification for Adnoc L&S and will be a critical enabler of Adnoc Offshore’s growth.”