“Petrofac has a long and strong track record supporting Adnoc in the UAE, rooted in our steadfast commitment to maximising local delivery, investing in the local supply chain, and developing local teams," said Petrofac Engineering & Construction COO Elie Lahoud.
The Lower Zakum long-term development plan aims to increase production to a peak of 500,000 barrels per day. Adnoc expects to achieve this in around five years.
The new rigs will use a high capacity battery and engine, in parallel to traditional diesel generators. As a result, Adnoc Drilling said the new units would reduce greenhouse gas emissions by 15% in comparison with a traditional rig.
“Last year, developing economies received only 20% of clean tech investments. These economies represent 70% of the world's population – that's over 5 billion people,” Sultan Al Jaber said.
The Al Ruwais facility would use electric-drive trains, running on renewables and nuclear power. As a result, Adnoc said, it will be “one of the lowest carbon intensity LNG facilities in the world”.
Eni said the companies may work together in renewable energy, blue and green hydrogen, carbon capture and storage (CCS), tackling methane emissions and other areas.
The company said the new rig order was a “direct response” to Adnoc’s production targets. It aims to reach 5 million barrels per day of capacity by 2027, in addition to achieving gas self sufficiency for the United Arab Emirates.
Cepsa said the sale was intended to allow it to focus on its Positive Motion strategy. This will make Cepsa a leader in sustainable mobility, biofuels and green hydrogen in Spain and Portugal, it said.
The offer runs until March 1. It covers around 4% of the shares in the company. It will raise $1.9 to 2 billion. The price values Adnoc Gas at $47 to 50.8bn.
Alebri said the delivery “demonstrates how the UAE is continuing to work closely with our strategic partners in responsibly providing secure, sustainable and affordable energy supplies”.
Adnoc has awarded a pre-construction award for offshore facilities on the Hail and Ghasha project to a group including National Petroleum Construction Co. (NPCC).
The MoU today demonstrates that “not only are we are strengthening our energy security and lowering bills for consumers in the long term, we’re unlocking huge opportunities for investment in British expertise and jobs in the process”.
Gas, he said, would be “a critical fuel in the energy transition and Adnoc Gas, through its world-scale operations and significant growth and expansion plans, will be well-positioned to meet both local and international gas demand”.
The company aims to capture 5 million tonnes per year of CO2 by 2030, it has said. Adnoc’s Al Reyadah facility captures 800,000 tpy currently. The next major investment will come at the Habshan gas processing facility, using local geology.
The UK-based Petrofac (LON: PFC) has secured an engineering, procurement and construction (EPC) lump-sum contract with ADNOC in the United Arab Emirates (UAE).