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Abu Dhabi state oil firm Adnoc will integrate the Abu Dhabi Marine Operating Company (Adma-Opco) and the Zakum Development Company (Zadco) in early 2018, Adnoc CEO and Director General Sultan al-Jabir announced on 4 October.
The two companies have around 97% of Abu Dhabi’s 1.3mn b/d offshore production capacity. With significant expansion plans progressing at both, this is set to grow (see charts). They are essential to Abu Dhabi’s plans to increase capacity from its current level of 3mn b/d to 3.5mn b/d by 2018.
The Adma concession (Adnoc 60%, BP 14.66%, Total 13.34%, and Japan’s Jodco 12%) currently produces around 655,000 b/d and is targeting 1mn b/d by 2020. However, the concession expires in 2018, and IOCs considering bidding for a stake in the current Adma concession will instead therefore be bidding to join the newly-merged entity. Key to this are plans to increase production at the 325,000 b/d Lower Zakum field by 100,000 b/d along with an additional 270,000 b/d from the startup of the Satah al-Razboot (SARB) fields, along with Nasr and Umm Lulu. However, these are all experiencing delays (MEES, 23 September). (CONTINUED - 717 WORDS)