ADNOC and ExxonMobil sign deal to explore technology R&D opportunities

11 December 2020 (Last Updated December 11th, 2020 15:53)

Abu Dhabi National Oil Company (ADNOC) has collaborated with ExxonMobil to jointly explore technology research and development (R&D) opportunities across the upstream oil and gas value chain.

ADNOC and ExxonMobil sign deal to explore technology R&D opportunities
ADNOC and ExxonMobil sign framework agreement to collaborate on technology research and development. Credit: Abu Dhabi National Oil Company.

Abu Dhabi National Oil Company (ADNOC) has collaborated with ExxonMobil to jointly explore technology research and development (R&D) opportunities across the upstream oil and gas value chain.

Under the agreement, the firms will identify technologies of mutual interest such as advanced non-metallic solutions, field testing and integrity management, smart reservoir management and well monitoring systems, as well as innovative emergency response systems.

ADNOC and ExxonMobil will also identify mutual interest areas for co-developing technology solutions that enable in improving upstream operational efficiencies.

ADNOC People, Technology & Corporate Support Directorate executive director Abdulmunim Saif Al Kindy said: “We are excited to be expanding on our long-standing partnership to lay the foundation for ADNOC and ExxonMobil to share advanced technology learnings as well as accelerate the pace of technology development.

“This strategic partnership aligns with our broader focus to embed advanced technologies across ADNOC’s full value chain to drive greater cost and carbon efficiencies as we deliver on our 2030 smart growth strategy.”

According to ADNOC, the agreement also enables ‘cross-sharing of advanced technology’ of the two companies.

ExxonMobil UAE country manager and Exxon Al Khalij Inc president Christian Lenoble said: “ExxonMobil’s unique approach to research and working across all parts of the innovation stream puts us in an advantaged position to progress energy solutions from lab to field-scale.

“Our discussions on R&D will also complement the technical contributions ExxonMobil has brought to the Upper Zakum concession since 2006.”

The Upper Zakum oil field is located 85km north-west offshore Abu Dhabi. It is the second-largest offshore oilfield and the fourth largest oilfield in the world.

The field is owned by Zakum Development Company (ZADCO), a joint venture of ADNOC (60%), ExxonMobil (28%), and the Japan Oil Development Company (Jodco-12%), a wholly owned subsidiary of INPEX.

The JV partners are increasing production capacity to one million barrels a day by 2024.