Adnoc on 25 May announced the award of a $744mn EPC contract for the development of three fields on the Belbazem offshore block operated by the Al Yasat joint venture of Adnoc (60%) and Chinese state firm CNPC (40%). The partners target 45,000 b/d of 35° API crude from the Belbazem, Umm al-Salsal and Umm al-Dholou fields with first oil slated for 2023.

Al Yasat awarded the EPC contract to the UAE’s National Petroleum Construction Company (NPCC). Adnoc says that “65% of the award value will flow back into the UAE’s economy under Adnoc’s In-Country Value program.” (CONTINUED - 759 WORDS)