Takreer awarded $2.47 billion on first half 2012
This downstream project came after a long period without major capital expenditure in the UAE since the Borealis and Abu Dhabi Polymers Company $3 billion Borouge expansion in 2010.
– In June 2012, the Engineering, procurement and construction (EPC) contract for the Ruwais refinery carbon black and delayed coker to Samsung Engineering from South Korea for $2.47 billion
– In July 2012, the Project Management Consultancy (PMC) contract to Jacobs Engineering.
These contracts are following the previous ones signed by Takreer with:
– Bechtel for the Front end engineering and design (FEED)
According to its PMC contract, Jacobs will supervise the good execution of the Ruwais Carbon black and delayed coker designed with a capacity of:
– 40,000 t/y of carbon black
– 30,000 b/d of crude oil
$8 billion EPC to be contracted on second half 2012
In parallel of Takreer‘s downstream project, Abu Dhabi National Oil Company (ADNOC) was developing several large upstream projects these last years and maturing for final investment decision (FID) in 2012.
These oil and gas projects developments were driven by ADNOC to meet is allocated production quotas agreed within OPEC for 2017 in order to guaranty to the GCC countries to produce at least 40% of the global production by then.
In this context ADNOC is planning to increase its production from the current 1.1 million b/d to 1.75 million b/d representing a 90% increase in 5 years.
This leap will come from developing new fields as well as enhancing maturing fields, especially in combining gas projects to boost the oil production.
In these context, ADNOC and its subsidiaries are planning to engage $8 billion in projects such as Upper Zakum EPC1 and EPC2, Umm al Lulu and Satah al Razboot (Sarb), Habshan -Taweelah to be contracted on the second half of 2012.
$800 million Adma-Opco and Zadco Upper Zakum EPC1 project
In July 2012, Abu Dhabi Marine Operating Company (Adma-Opco) and Zakum Abu Dhabi Company (Zadco) awarded the first package, called EPC1, of the offshore infrastructures of the Uppper Zakum oil and gas field.
The Upper Zakum EPC1 project represents $800 million capital expenditure and will be executed in NPCC and Technip Abu Dhabi office.
$2 – $4 billion Adma-Opco and Zadco Upper Zakum EPC2 project
The Upper Zakum EPC2 project is closely connected to the EPC1, as it includes all the offshore processing facilities and power generation to be integrated with EPC1 infrastructures.
This giant package is estimated between $2 and $4 billion capital expenditure.
Adma-Opco and Zadco expects to award the EPC contract for the Upper Zakum EPC2 before the end of the year.
$2 billion Adma-Opco Umm al Lulu and Satah al Razboot (Sarb)
The Umm al Lulu and Satah al Razboot (Sarb) offshore oil fields are part of the major offshore oil fields to be developed to help ADNOC to meet its 2017 oil production targets.
These four EPC contracts should be awarded for a total capital expenditure around $2 billion.
Adma-Opco is working on it to close these EPC contracts for Umm al Lulu and Satah al Razboot (Sarb) before the end of 2012.
$450 million GASCO Habshan – Taweelah gas pipeline
Abu Dhabi Gas Industries (GASCO) is currently evaluating the commercial quotations submitted by the engineering companies for the EPC contract of the Habshan – Taweelah gas pipeline.
GASCO has budgeted $450 million capital expenditure for this EPC contract to be awarded soon.
The local UAE Dodsal is reported to lead the competition for this Habshan – Taweelah gas pipeline.
After a long standing downstream development in UAE, ADNOC and its subsidiaries ADCO, GASCO, ZADCO and Adma-Opco are planning to boost its upstream and midstream sectors through a program of 16 major projects beginning with Upper Zakum, Umm al Lulu and Satah al Razboot (Sarb) and Hashan – Taweelah.