Adnoc headquarters in Abu Dhabi. A five-year contract awarded by Adnoc Offshore to Adnoc Logistics & Services is for hiring 13 self-propelled jack-up barges. AFP
Adnoc headquarters in Abu Dhabi. A five-year contract awarded by Adnoc Offshore to Adnoc Logistics & Services is for hiring 13 self-propelled jack-up barges. AFP
Adnoc headquarters in Abu Dhabi. A five-year contract awarded by Adnoc Offshore to Adnoc Logistics & Services is for hiring 13 self-propelled jack-up barges. AFP
Adnoc headquarters in Abu Dhabi. A five-year contract awarded by Adnoc Offshore to Adnoc Logistics & Services is for hiring 13 self-propelled jack-up barges. AFP

Adnoc's logistics arm secures $1.17bn contract to boost offshore capacity


Shweta Jain
  • English
  • Arabic

Abu Dhabi National Oil Company has signed a $1.17 billion contract with its logistics and services unit to boost offshore production capacity.

The five-year contract was awarded by Adnoc Offshore to Adnoc Logistics & Services (L&S) for hiring 13 self-propelled jack-up barges, the state-owned oil company said in a statement on Thursday.

The barges, which will be deployed across Adnoc's offshore fields, are "equipped to support a wide scope of operations, including project work, maintenance and accommodation".

The move will drive Adnoc's offshore operational efficiencies and support the expansion of its oil production capacity to 5 million barrels per day by 2030.

The availability of the self-propelled jack-up barges "will help us drive efficiencies and flexibility while cementing Adnoc's position as a leading low cost and low-carbon energy producer", said Ahmad Al Suwaidi, chief executive of Adnoc Offshore.

Adnoc L&S has the largest and most diversified fleet in the Middle East, with more than 200 vessels transporting crude oil, refined products, dry bulk, containerised cargo, liquefied petroleum gas and liquefied natural gas to global markets.

In June, the company said it had bought three new LNG vessels to expand its fleet to meet higher demand globally.

As part of the latest agreement, the self-propelled jack-up barges will be hired along with manpower and equipment, Adnoc said.

The barges will be utilised for rig-less well intervention and pre and post-drilling operations, as well as for topside maintenance and integrity restoration activities at its offshore assets, it added.

Instead of these services being provided through several discrete, operationally specific contracts, "all requirements have been unified in line with Adnoc's smart approach of centralising procurement and operational logistics management", the statement said.

The move provides Adnoc Offshore and its strategic partners with "operational flexibility" while enabling cost efficiencies and single point responsibility by Adnoc L&S.

"These vessels represent an important opportunity for growth and diversification for Adnoc L&S and will be a critical enabler of Adnoc Offshore’s growth,” said Capt Abdulkareem Al Masabi, chief executive of Adnoc Logistics & Services.

More than 80 per cent of the contract value will flow back into the UAE’s economy under Adnoc's In-Country Value (ICV) programme, supporting local economic growth and diversification.

"Critically, the award enables very high ICV, which can stimulate new business opportunities to support the growth and diversification of UAE’s economy,” Mr Al Suwaidi said.

In July, Adnoc announced a second discovery of natural gas in 2022 in the first exploration well in Abu Dhabi’s Offshore Block 2 exploration concession operated by Eni.

The discovery from a new, deeper reservoir indicates the presence of one trillion to 1.5 trillion standard cubic feet of raw gas, almost doubling the discovered field volume, Adnoc said at the time.

“We are committed to continuing to seize growth opportunities and deliver more value to Adnoc, and this announcement is another milestone in that journey," Capt Al Masabi said, referring to the latest contract.

Labour dispute

The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.


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Jordan cabinet changes

In

  • Raed Mozafar Abu Al Saoud, Minister of Water and Irrigation
  • Dr Bassam Samir Al Talhouni, Minister of Justice
  • Majd Mohamed Shoueikeh, State Minister of Development of Foundation Performance
  • Azmi Mahmud Mohafaza, Minister of Education and Minister of Higher Education and Scientific Research
  • Falah Abdalla Al Ammoush, Minister of Public Works and Housing
  • Basma Moussa Ishakat, Minister of Social Development
  • Dr Ghazi Monawar Al Zein, Minister of Health
  • Ibrahim Sobhi Alshahahede, Minister of Agriculture and Minister of Environment
  • Dr Mohamed Suleiman Aburamman, Minister of Culture and Minister of Youth

Out

  • Dr Adel Issa Al Tawissi, Minister of High Education and Scientific Research
  • Hala Noaman “Basiso Lattouf”, Minister of Social Development
  • Dr Mahmud Yassin Al Sheyab, Minister of Health
  • Yahya Moussa Kasbi, Minister of Public Works and Housing
  • Nayef Hamidi Al Fayez, Minister of Environment
  • Majd Mohamed Shoueika, Minister of Public Sector Development
  • Khalid Moussa Al Huneifat, Minister of Agriculture
  • Dr Awad Abu Jarad Al Mushakiba, Minister of Justice
  • Mounir Moussa Ouwais, Minister of Water and Agriculture
  • Dr Azmi Mahmud Mohafaza, Minister of Education
  • Mokarram Mustafa Al Kaysi, Minister of Youth
  • Basma Mohamed Al Nousour, Minister of Culture
The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

Schedule:

Sept 15: Bangladesh v Sri Lanka (Dubai)

Sept 16: Pakistan v Qualifier (Dubai)

Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)

Sept 18: India v Qualifier (Dubai)

Sept 19: India v Pakistan (Dubai)

Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four

Sept 21: Group A Winner v Group B Runner-up (Dubai) 

Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)

Sept 23: Group A Winner v Group A Runner-up (Dubai)

Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)

Sept 25: Group A Winner v Group B Winner (Dubai)

Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)

Sept 28: Final (Dubai)

UAE currency: the story behind the money in your pockets
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2. Novak Djokovic (SRB) 8,945 (-1)
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5. Dominic Thiem (AUT) 5,025
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ENGLAND SQUAD

Goalkeepers Henderson, Johnstone, Pickford, Ramsdale

Defenders Alexander-Arnold, Chilwell, Coady, Godfrey, James, Maguire, Mings, Shaw, Stones, Trippier, Walker, White

Midfielders Bellingham, Henderson, Lingard, Mount, Phillips, Rice, Ward-Prowse

Forwards Calvert-Lewin, Foden, Grealish, Greenwood, Kane, Rashford, Saka, Sancho, Sterling, Watkins 

UAE currency: the story behind the money in your pockets
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Range: Up to 610km

Power: 905hp

Torque: 985Nm

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

Who is Tim-Berners Lee?

Sir Tim Berners-Lee was born in London in a household of mathematicians and computer scientists. Both his mother, Mary Lee, and father, Conway, were early computer scientists who worked on the Ferranti 1 - the world's first commercially-available, general purpose digital computer. Sir Tim studied Physics at the University of Oxford and held a series of roles developing code and building software before moving to Switzerland to work for Cern, the European Particle Physics laboratory. He developed the worldwide web code as a side project in 1989 as a global information-sharing system. After releasing the first web code in 1991, Cern made it open and free for all to use. Sir Tim now campaigns for initiatives to make sure the web remains open and accessible to all.

Abu Dhabi GP schedule

Friday: First practice - 1pm; Second practice - 5pm

Saturday: Final practice - 2pm; Qualifying - 5pm

Sunday: Etihad Airways Abu Dhabi Grand Prix (55 laps) - 5.10pm

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Women’s World Twenty20 Qualifier

Jul 3- 14, in the Netherlands
The top two teams will qualify to play at the World T20 in the West Indies in November

UAE squad
Humaira Tasneem (captain), Chamani Seneviratne, Subha Srinivasan, Neha Sharma, Kavisha Kumari, Judit Cleetus, Chaya Mughal, Roopa Nagraj, Heena Hotchandani, Namita D’Souza, Ishani Senevirathne, Esha Oza, Nisha Ali, Udeni Kuruppuarachchi

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Started: March 2018

Co-founders: Dalal Alrayes and Saurabh Shah

Based: UAE

Sector: FinTech

Investment: Own savings. Going for first round of fund-raising in March 2019

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Engine: 1.5-litre

 

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Torque: 147Nm 

 

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Winner: Silent Speech, William Buick (jockey), Charlie Appleby
(trainer) 

6.35pm: Jumeirah Derby Trial – Conditions (TB) $60,000 (T)
1,800m 

Winner: Island Falcon, Frankie Dettori, Saeed bin Suroor 

7.10pm: UAE 2000 Guineas Trial – Conditions (TB) $60,000 (Dirt)
1,400m 

Winner: Rawy, Mickael Barzalona, Salem bin Ghadayer 

7.45pm: Al Rashidiya – Group 2 (TB) $180,000 (T) 1,800m 

Winner: Desert Fire, Hector Crouch, Saeed bin Suroor 

8.20pm: Al Fahidi Fort – Group 2 (TB) $180,000 (T) 1,400m 

Winner: Naval Crown, William Buick, Charlie Appleby 

8.55pm: Dubawi Stakes – Group 3 (TB) $150,000 (D) 1,200m 

Winner: Al Tariq, Pat Dobbs, Doug Watsons 

9.30pm: Aliyah – Rated Conditions (TB) $80,000 (D) 2,000m 

Winner: Dubai Icon, Patrick Cosgrave, Saeed bin Suroor  

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Company Profile

Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

The Programme

Saturday, October 26: ‘The Time That Remains’ (2009) by Elia Suleiman
Saturday, November 2: ‘Beginners’ (2010) by Mike Mills
Saturday, November 16: ‘Finding Vivian Maier’ (2013) by John Maloof and Charlie Siskel
Tuesday, November 26: ‘All the President’s Men’ (1976) by Alan J Pakula
Saturday, December 7: ‘Timbuktu’ (2014) by Abderrahmane Sissako
Saturday, December 21: ‘Rams’ (2015) by Grimur Hakonarson

COMPANY%20PROFILE
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Washmen Profile

Date Started: May 2015

Founders: Rami Shaar and Jad Halaoui

Based: Dubai, UAE

Sector: Laundry

Employees: 170

Funding: about $8m

Funders: Addventure, B&Y Partners, Clara Ventures, Cedar Mundi Partners, Henkel Ventures

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Director: Matty Brown

Stars: Nadine Labaki, Ziad Bakri, Zain Al Rafeea, Riman Al Rafeea

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Tamkeen's offering
  • Option 1: 70% in year 1, 50% in year 2, 30% in year 3
  • Option 2: 50% across three years
  • Option 3: 30% across five years 
Updated: August 11, 2022, 8:30 AM