Abu Dhabi National Oil Company awarded a $744 million (Dh2.73 billion) contract to the UAE's National Petroleum Construction Company to fully develop the offshore Belbazem block.
Adnoc subsidiary Al Yasat, which is the state-owned oil company's joint venture with China National Petroleum Corporation, awarded the engineering, procurement and construction contract.
The Belbazem block is being developed to reach a production capacity of 45,000 barrels per day of light crude, with the first barrel of oil expected in 2023. The development is part of Adnoc's efforts to raise its production capacity to 5 million bpd by 2030.
The offshore block consists of three fields –Belbazem, Umm Al Salsal and Umm Al Dholou.
Adnoc has the majority 60 per cent stake in Al Yasat, with the remainder held by China’s CNPC.
"NPCC was selected after a rigorous tender process that ensures it will deploy best-in-class technology and expertise to execute this strategic project, with a substantial part of the award value flowing back into the UAE’s economy," said Yaser Almazrouei, Adnoc upstream executive director said in a statement on Tuesday.
Around 65 per cent of the award value will flow back to the UAE, according to Adnoc's in-country value programme.
The Belbazem block, which lies 120 kilometres northwest of Abu Dhabi city, is also expected to produce 27 million cubic feet per day of associated gas by 2023.
Ahead of the EPC award, Al Yasat undertook a front-end engineering and design competition in order to optimise the cost and time efficiencies of the project.
The company was able to reduce the tender time by up to 12 months after eliminating the need for technical bids. Al Yasat Petroleum saved about $190m in capital expenditure with the shortening of the tendering process, Adnoc said.
"The Feed competition and EPC award for the Belbazem offshore block highlight Al Yasat’s focus on costs and competitive approach to ensure we can commercially develop our concession areas and deliver long-term and sustainable value for Adnoc and our partner CNPC," said Al Yasat acting chief executive Shaheen Al Mansoori.
NPCC's scope of work includes installing three offshore wellhead towers, one in each of the three fields. Laying interconnecting subsea pipelines and cables to Zirku Island, located 60km from Belbazem field, are also part of the scope.
NPCC is also required to undertake the development of greenfield facilities for water injection, produced water treatment, gas compression, associated utilities as well as brownfield works for tie-in to existing facilities at Zirku Island.
On Monday, Adnoc announced the development of a massive blue ammonia project at its downstream hub in Ruwais, as it looks to grow the UAE's hydrogen economy.
The company is advancing the design phase of the planned facility at the Ta'ziz industrial ecosystem, which is being developed with ADQ at Ruwais.
The facility will have a capacity to produce 1,000 kilotonnes of ammonia per year, Adnoc said in a statement.
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
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UAE v Zimbabwe A
Results
Match 1 – UAE won by 4 wickets
Match 2 – UAE won by 5 wickets
Match 3 – UAE won by 25 runs
Match 4 – UAE won by 77 runs
Fixture
Match 5, Saturday, 9.30am start, ICC Academy, Dubai
WHAT IS A BLACK HOLE?
1. Black holes are objects whose gravity is so strong not even light can escape their pull
2. They can be created when massive stars collapse under their own weight
3. Large black holes can also be formed when smaller ones collide and merge
4. The biggest black holes lurk at the centre of many galaxies, including our own
5. Astronomers believe that when the universe was very young, black holes affected how galaxies formed
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Killing of Qassem Suleimani
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The specs: 2017 Maserati Quattroporte
Price, base / as tested Dh389,000 / Dh559,000
Engine 3.0L twin-turbo V8
Transmission Eight-speed automatic
Power 530hp @ 6,800rpm
Torque 650Nm @ 2,000 rpm
Fuel economy, combined 10.7L / 100km
UAE currency: the story behind the money in your pockets
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.
- Abdullah Ishnaneh, Partner, BSA Law
UAE currency: the story behind the money in your pockets
UAE SQUAD
Khalid Essa (Al Ain), Ali Khaseif (Al Jazira), Adel Al Hosani (Sharjah), Mahmoud Khamis (Al Nasr), Yousef Jaber (Shabab Al Ahli Dubai), Khalifa Al Hammadi (Jazira), Salem Rashid (Jazira), Shaheen Abdelrahman (Sharjah), Faris Juma (Al Wahda), Mohammed Shaker (Al Ain), Mohammed Barghash (Wahda), Abdulaziz Haikal (Shabab Al Ahli), Ahmed Barman (Al Ain), Khamis Esmail (Wahda), Khaled Bawazir (Sharjah), Majed Surour (Sharjah), Abdullah Ramadan (Jazira), Mohammed Al Attas (Jazira), Fabio De Lima (Al Wasl), Bandar Al Ahbabi (Al Ain), Khalfan Mubarak (Jazira), Habib Fardan (Nasr), Khalil Ibrahim (Wahda), Ali Mabkhout (Jazira), Ali Saleh (Wasl), Caio (Al Ain), Sebastian Tagliabue (Nasr).
SERIES INFO
Afghanistan v Zimbabwe, Abu Dhabi Sunshine Series
All matches at the Zayed Cricket Stadium, Abu Dhabi
Test series
1st Test: Zimbabwe beat Afghanistan by 10 wickets
2nd Test: Wednesday, 10 March – Sunday, 14 March
Play starts at 9.30am
T20 series
1st T20I: Wednesday, 17 March
2nd T20I: Friday, 19 March
3rd T20I: Saturday, 20 March
TV
Supporters in the UAE can watch the matches on the Rabbithole channel on YouTube
The specs
Engine: 4-litre twin-turbo V8
Transmission: nine-speed
Power: 542bhp
Torque: 700Nm
Price: Dh848,000
On sale: now
SERIES INFO
Schedule:
All matches at the Harare Sports Club
1st ODI, Wed Apr 10
2nd ODI, Fri Apr 12
3rd ODI, Sun Apr 14
4th ODI, Sun Apr 16
UAE squad
Mohammed Naveed (captain), Rohan Mustafa, Ashfaq Ahmed, Shaiman Anwar, Mohammed Usman, CP Rizwan, Chirag Suri, Mohammed Boota, Ghulam Shabber, Sultan Ahmed, Imran Haider, Amir Hayat, Zahoor Khan, Qadeer Ahmed
Zimbabwe squad
Peter Moor (captain), Solomon Mire, Brian Chari, Regis Chakabva, Sean Williams, Timycen Maruma, Sikandar Raza, Donald Tiripano, Kyle Jarvis, Tendai Chatara, Chris Mpofu, Craig Ervine, Brandon Mavuta, Ainsley Ndlovu, Tony Munyonga, Elton Chigumbura
Global state-owned investor ranking by size
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UAE
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Norway
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Canada
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Singapore
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Saudi Arabia
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South Korea
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The biog
Place of birth: Kalba
Family: Mother of eight children and has 10 grandchildren
Favourite traditional dish: Al Harees, a slow cooked porridge-like dish made from boiled cracked or coarsely ground wheat mixed with meat or chicken
Favourite book: My early life by Sheikh Dr Sultan bin Muhammad Al Qasimi, the Ruler of Sharjah
Favourite quote: By Sheikh Zayed, the UAE's Founding Father, “Those who have no past will have no present or future.”
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
Price: From Dh825,900
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NBA FINALS SO FAR
(Toronto lead 3-2 in best-of-seven series)
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
Game 5 Raptors 105 Warriors 106
Game 6 Thursday, at Oakland
Game 7 Sunday, at Toronto (if needed)
