ADNOC OUTPUT UP
OGJ - Abu Dhabi National Oil Co. (ADNOC) has advanced two projects that will increase its production by 380,000 b/d of crude oil.
In the larger of the projects, the company entered an agreement with partners in supergiant Upper Zakum offshore field to boost production to 1 million b/d from about 650,000 b/d at present.
The agreement extends the concession of ExxonMobil Corp., which holds a 28% interest, and Japan Oil Development Co. Ltd. (Jodco), with 12%, by 10 years to 2051. ADNOC holds the remaining 60%. Jodco is wholly owned by INPEX Corp.
The project will include construction of four artificial islands in shallow water to support drilling of extended-reach wells with onshore rigs as well as offices and housing.
Initial Upper Zakum development involved 450 wells and more than 90 offshore platforms. The field produces 33.9° gravity crude, which is partially processed offshore then moved by pipeline to Zirku Island, 55 km away, for further processing, storage, and tanker loading.
In the other project, ADNOC let an engineering, procurement, and construction contract to China Petroleum Engineering & Construction Corp. (CPEC) to boost production capacity of onshore Bab field to 450,000 b/d of crude oil from 420,000 b/d by 2020.
CPEC is an affiliate of China National Petroleum Corp.
The upgrade will make the field's first use of cluster drilling and digital oil field technology.
The project also will increase water and gas-handling capacities and add a degassing and processing train to seven trains now in place.
ADNOC is increasing its total production capacity to 3.5 million b/d next year from about 3.1 million b/d at present.
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REUTERS - State oil company Saudi Aramco last week raised prices for all crude oil grades to Asia in January.
U.S. BLS - Total nonfarm payroll employment increased by 228,000 in November, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in professional and business services, manufacturing, and health care.
Отклонение нефтегазовых доходов федерального бюджета от месячной оценки, соответствующей Федеральному закону о федеральном бюджете на 2017-2019 годы, в декабре 2017 года прогнозируется в размере +204,8 млрд руб.
“Tight oil supplies are the wild card. They have reshaped the global outlook in recent years,” observed Ayed S. Al-Qahtani, who directs the research division at the OPEC Secretariat in Vienna. “US tight oil supplies will be the most important contributor but are expected to reach their peak around 2025.”