Abu Dhabi signs $560m oilfield deal with NPCC
Dubai, March 24, 2010
The onshore division of state-run Abu Dhabi National Oil Co (Adnoc) signed a $560.4 million oilfield development contact with the UAE's National Petroleum Construction Company (NPCC), Adco said.
The project is to develop infrastructure at the Qusahwira oilfield, Abu Dhabi Company for Onshore Oil Operations (Adco) said. It would include building an oil gathering system and a pipeline to the Asab field, Adco added.
The company plans to add 30,000 barrels per day (bpd) from the first phase of development of the Qusahwira oilfield by 2013. Adco aims to boost its output capacity to 1.8 million bpd from around 1.4 million bpd.
The expansion is part of a wider plan for the world's third-largest oil exporter to boost capacity to around 3.5 million bpd in 2018 from around 2.8 million bpd.
NPCC beat six other bidders to the deal, awarded by Adco. The field is located south east of the UAE's capital Abu Dhabi. – Reuters