UAE state-owned oil company Abu Dhabi National Oil Company (ADNOC) has awarded the world’s largest 3D seismic shoot to BGP, a subsidiary of China National Petroleum Company (CNPC).
Valued at AED1.9bn ($519m), the contract is aimed at expanding the scope of the combined 3D onshore and offshore seismic survey, which is currently underway in Abu Dhabi.
The new contract brings the total area to be covered by the survey to 85,000km².
The expansion of the seismic survey underpins the importance that seismic surveying plays in allowing ADNOC to explore new hydrocarbon resources.
According to ADNOC, the seismic shoot will capture high-resolution three-dimensional images of the ‘complex subsurface structure’ at ultra-deep locations.
These 3D images will help in identifying potential hydrocarbon reservoirs with the deployment of advanced technologies to provide ‘high-density survey data’, which is analysed at the company’s Thamama Subsurface Center.
ADNOC Upstream executive director Yaser Saeed Al Mazrouei, stated: “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 our strategy to accelerate the exploration and development of Abu Dhabi’s hydrocarbon resources.
“It further demonstrates ADNOC’s commitment to realizing 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.”
Under ADNOC’s ‘In-Country Value’ (ICV) programme, 50% of the award value will ‘flow back into the UAE’s economy’.
The latest contract award extends the ongoing onshore and offshore shoot, which ADNOC awarded to BGP in July 2018.
Recently, ADNOC secured approval from Abu Dhabi’s Supreme Petroleum Council (SPC) to invest AED448bn ($122bn) over the next five years, from 2021 to 2025, to expand the region’s hydrocarbons sector.
SPC also approved the awarding of a ‘second round of exploration blocks’ and announced the discovery of two billion stock tank barrels (STB) of conventional oil reserves and 22 billion STB of unconventional oil reserves.
Two weeks ago, ADNOC and French energy major Total delivered the first unconventional gas from the UAE.