Abu Dhabi state firm Adnoc completed its latest round of streamlining this week and has rebranded a number of its major subsidiaries. Notably, it has completed the merger of its two primary offshore operating companies. The next step is to secure partners for offshore fields currently operated under the Adma concession which expires in March 2018.
The newly-created Adnoc Offshore operates 1.4mn b/d crude production. This is 48% of the UAE’s current 2.9mn b/d output. It is a consolidation of the former Adma-Opco, (Adnoc 60%, BP 14.66%, Total 13.34%, and Japan’s Inpex via its Jodco subsidiary 12%) and Zadco (Adnoc 60%, ExxonMobil 28%, Inpex 12%). MEES calculates these two operating companies produced 675,000 b/d and 725,000 b/d respectively. (CONTINUED - 897 WORDS)
