UAE’s ADNOC Group to invest $187m to expand capacity of Al Nouf field
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UAE’s ADNOC Group to invest $187m to expand capacity of Al Nouf field

UAE’s ADNOC Group to invest $187m to expand capacity of Al Nouf field

The investment will expand the capacity of ADNOC’s Al Nouf field from 160,000 barrels per day (bpd) to 175,000 bpd by 2024

ADNOC Al Nouf

The UAE’s ADNOC Group will invest $187m to expand the capacity of its Al Nouf field from 160,000 barrels per day (bpd) to 175,000 bpd by 2024.

Al Nouf Development will add more than 20 new wells to the field and expand the use of water and gas (WAG) injection for enhanced oil recovery.

The investment is in the form of an Engineering, Procurement and Construction (EPC) contract awarded by ADNOC Onshore to Robt.Stone which will see more than 75 per cent of the value returning to the UAE’s economy underits flagship In-Country Value programme, over the 39-month duration of the contract.

Al Nouf field is located approximately 85 kilometers southwest of Abu Dhabi, and has been producing since 2005.

In a post on its LinkedIn Page on Monday, the group said that the investment in Al Nouf will unlock greater value from the maturing field and will contribute to achieving ADNOC’s 5 million barrels per day oil production capacity target by 2030.

In November 2020, Abu Dhabi-based Supreme Petroleum Council (SPC) confirmed the discovery of an estimated 22 billion stock tank barrels (STB) of unconventional oil resources located onshore, and an increase in conventional oil reserves of 2 billion STB in the capital emirate.

Read: Abu Dhabi confirms massive oil discovery, set to add Dhs160bn to the UAE’s economy

The 2 billion STB of conventional oil reserves announced by the SPC at the time increased the UAE’s conventional oil reserves base to 107 billion STB of recoverable oil, strengthening the country’s position in global rankings as the holder of the sixth-largest oil reserves.

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