CNPC bags record seismic deal from ADNOC

Multinational

ABU DHABI, July 19, 2018 – ADNOC has awarded 3D-seismic contracts worth USD 1.6 billion to a subsidiary of China National Petroleum Corporation (CNPC), the Abu Dhabi NOC announced on Thursday.

The study is to cover a continuous area of 30,000 square kilometres offshore and 23,000 square kilometres onshore in a world record, the company statement added.

“The announcement of the world’s largest continuous 3D-seismic survey, and, with it, the deployment of cutting-edge exploration technologies, is an important step in realising the full potential of Abu Dhabi’s conventional and unconventional oil and gas resources as we deliver on our 2030 smart growth strategy,” said Sultan Ahmed Al Jaber, UAE minister of state and ADNOC Group CEO.

“The scale of the project shows ADNOC’s commitment to upstream investment and to bolstering our oil and gas reserves and production for the long term. The award, following a highly competitive bid process, also represents another key milestone in ADNOC’s thriving partnership with CNPC, and the UAE’s strategic energy partnership with China.”

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