Abu Dhabi National Oil Company (Adnoc) has awarded framework agreements worth $658 million to five domestic and international service companies, aimed at boosting the emirate’s oil production capacity.

The state-owned giant said on Thursday that the framework agreements have been awarded for cementing services — a key element in the drilling and completion of oil and gas wells.

The deals were awarded to — Haliburton Worldwide Abu Dhabi (Halliburton), Baker Middle East (Baker), Emirates Western Oil Well Drilling & Maintenance Company (Emirates Western), NESR Energy Services (NESR) and Emjel Oil Field Services (Emjel), the company said.

The contracts were awarded “following a competitive tender process,” Adnoc added.

Five year contracts

The deals cover multiple onshore and offshore fields in Abu Dhabi and will run for five years with an option for a further two years, the company noted.

The state-owned giant said over “65% of the award value could flow back into the United Arab Emirates (UAE) economy under Adnoc’s in-country value (ICV) programme over the duration of the agreements.”

source : https://www.upstreamonline.com