Adnoc Revamp Advances Amid Flurry Of Adipec Deals

A picture is gradually emerging as to how Adnoc plans to reshape its offshore sector after a key concession expires in March 2018. Abu Dhabi is also making progress onshore with a contract awarded to develop the Bab field. The state giant’s 3.5mn b/d 2018 capacity target looks set to be missed.

The Abu Dhabi National Oil Company (Adnoc) announced several deals on the sidelines of the Adipec conference in Abu Dhabi this week. Officials said talks over restructuring the Adma concession which expires in March are progressing with more than a dozen companies, but no definitive details were forthcoming.

The offshore fields are to be operated by Adnoc Offshore, which was formed last month by a merger of Adma-Opco and the Zakum Operating Company (Zadco MEES, 20 October ). Adnoc Upstream oversees around 1.4mn b/d of Abu Dhabi’s 3.1mn b/d capacity.

Legacy Zadco fields currently produce around 725,000 b/d. The fields from the legacy Adma concession produce around 675,000 b/d. The current partners are Adnoc (60%), BP (14.66%), Total (13.34%) and Jodco a subsidiary of Japan’s Inpex (12%). Adma, as currently configured, consists of four producing fields (see map).



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