China targets Abu Dhabi offshore

Abu Dhabi National Oil Company (ADNOC) and China National Petroleum Corporation signed a new framework agreement Wednesday.

Under the deal, the two companies will look at offshore and sour gas projects including the Lower Zakum, Umm Shaif and Nasr offshore concessions as well as the Bab Bu Hasa, Ghasha and Hail sour gas development projects.

“We are keen to work with partners who can share technology and capital, enable market access. Equally, we want partners who can deploy world-class engineering solutions for our mutual benefit, ultimately enabling us to drive a more profitable upstream business and strong returns to Abu Dhabi and the wider UAE,” said UAE state minister and ADNOC Group CEO Sultan Al Jaber.

Earlier in the week China Petroleum Engineering & Construction Corporation won the EPC contract for an ADNOC-led project to raise production capacity at the maturing onshore Bab field.