Abu Dhabi Plans Further Offshore Reshuffling

11 Aug 2017 Issue: 60 / 32

Abu Dhabi has not finished with its offshore shake-up. A key concession expiring in March 2018 will be split. With output slated to rise from almost 700,000 b/d to 1mn b/d, Adma fields are key to Abu Dhabi and an attractive proposition for IOCs.

Abu Dhabi announced this week that it plans to split up its 675,000 b/d offshore Adma concession. A 7 August press release from the Abu Dhabi National Oil Company (Adnoc) stated the “concession will be split into two, or more, concessions.” However, plans to create a single operating company which would control Abu Dhabi’s 60% stakes in both Adma and the 725,000 b/d Zadco offshore concession are continuing.

Combined output from Adma and Zadco is around 1.4mn b/d and this is planned to rise to 1.8mn b/d by 2018 and eventually 2mn b/d. The current Adma fields are earmarked for 1mn b/d by 2021, with output from Zadco’s largest field, Upper Zakum, rising to 750,000 b/d next year and 1mn b/d by 2024. Development of these offshore fields therefore forms an integral part of Adnoc’s plans to boost crude production capacity from around 3.1mn b/d to 3.5mn b/d next year. (CONTINUED - 1662 WORDS)