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.
-----
Earlier:
ADNOC:
|
|
|
|
|
EXXONMOBIL:
|
2016, December, 20, 18:35:00
BP: 10% SHAREHOLDERBP today signed an agreement with the Supreme Petroleum Council of the Emirate of Abu Dhabi and the Abu Dhabi National Oil Company (ADNOC) that grants BP a 10% interest in Abu Dhabi’s ADCO onshore oil concession, which has a life of 40 years.
|
2017, November, 13, 10:20:00
EXXON INCREASES COMPETITIVENESSThe world’s biggest oil explorer by market value recently finished four wells in North Dakota’s Bakken region that extend sideways for 3 miles (4.8 kilometers), Barclays Plc analyst Paul Cheng said in a research note after meeting Exxon executives, and it’s closing in on the 4-mile mark.
|
||||
2017, October, 30, 11:30:00
EXXON EARNINGS $11.3 BLNExxon Mobil Corporation announced estimated third quarter 2017 earnings of $4 billion, or $0.93 per diluted share, compared with $2.7 billion a year earlier as commodity prices improved and performance in the Upstream and Downstream strengthened. Impacts related to Hurricane Harvey reduced earnings by an estimated 4 cents per share.
|
|||||
2017, July, 21, 08:45:00
EXXON LEAVES INDONESIAExxonMobil Corp. has decided to walk away from development of the East Natuna natural gas permit in Indonesia saying it no longer wishes to continue discussions or activity in the block.
|
|||||
2017, June, 26, 23:30:00
QATAR - EXXON COOPERATIONSaudi Arabia, the United Arab Emirates, Bahrain and Egypt on Monday cut ties with Qatar, accusing the country of supporting extremism. Qatar denies the allegations.
|
|||||
2017, April, 21, 20:35:00
EXXON - ROSNEFT PERMISSIONExxon Mobil is seeking permission from the U.S. government for approval to resume drilling around the Black Sea with a Russian partner, state-owned Rosneft, according to a person familiar with the matter.
|
|||||
2017, March, 2, 19:35:00
EXXON INVESTMENTS: $22 BLNExxonMobil anticipates capital spending of $22 billion in 2017, an increase of 16 percent from 2016. Capital and exploration expenses through the end of the decade will average $25 billion annually.
|
|||||
2016, November, 16, 18:30:00
EXXON VS CHAD: $74 BLNExxon Mobil Corp. is negotiating with Chad’s government about a record $74 billion fine the oil company was told to pay last month by a court in the central African nation because of a dispute over royalties. |