The UAE's ADNOC announced the award of a contract worth 3.47 billion dirhams to the National Petroleum Construction Company.
ADNOC said in a press release, today, Wednesday, that the contract is for engineering, procurement and construction works, and is related to the development of the Umm Shaif offshore field.
The investment in this project supports ADNOC's plan to increase its crude oil production capacity to 5 million barrels per day by 2030.
The scope of the project contract covers the engineering, procurement, manufacturing, installation and operation activities required to maintain the Umm Shaif field's production capacity of 275,000 barrels per day, raise efficiency and enhance Long-term potential of the field.
More than 75% of the total contract value will be redirected to the local economy through ADNOC's In-Country Value (ICV) program, confirming ADNOC's keenness and commitment to contribute to stimulating growth and diversification. Economic.