Abu Dhabi National Oil Company (Adnoc) awarded Indian firm Larsen & Toubro (L&T) a contract worth more than Dh1.25bn to develop a small onshore field as the emirate boosts its energy ties with India.
L&T will undertake engineering works in the Haliba asset, which is operated by Adnoc subsidiary Al Dhafra Petroleum and will start production at 20,000 barrels per day (bpd) by mid-2019. Production capacity of the field located along the south-east border of Abu Dhabi will be increased to 40,000 bpd by 2020.
"The infrastructure investment will increase our group-wide production capacity and optimise our assets by utilising our existing onshore facilities, allowing Adnoc to develop previously untapped oil reserves in an efficient way," Adnoc upstream director Abdulmunim Al Kindy said in a statement.
The award to Mumbai-based L&T, one of India's largest infrastructure and engineering companies, comes after Adnoc awarded a 10 per cent stake of an offshore field to a consortium led by the international arm of ONGC, India's state-owned explorer.
The agreement with L&T forms part of a raft of economic pacts signed between the UAE and India following the visit of its prime minister Narendra Modi on Sunday.
The agreement with the ONGC to develop the offshore Lower Zakum for 40 years, is the first hydrocarbon rights agreement between Abu Dhabi and Asia's third-largest economy. The move comes amid increasing efforts by Gulf producers to service growing Asian demand by offering investment opportunities to lock-in long-term supply.
Last year, China National Petroleum Corporation won an 8 per cent stake in Adnoc Onshore. China Energy also took a per cent stake in the Adnoc subsidiary that operates onshore concessions in the emirate, including the Bab, Asab and Bu Hasa fields.
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Read more:
Abu Dhabi awards interest in offshore oil concession to Indian consortium
UAE, Saudi Arabia look at increasing crude and product supply to Asia
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Al Dhafra is 60 per cent owned by Adnoc, with the remaining 40 per cent shared by Korea National Oil Corporation and South Korea's GS Engineering.
As part of the works, L&T will spud 32 wells and will construct a 65km pipeline to transport crude from Haliba to Adnoc's onshore Asab central degassing station for processing. The processed crude will then be transported via existing main oil lines to marine export terminals.
What is 'Soft Power'?
Soft power was first mentioned in 1990 by former US Defence Secretary Joseph Nye.
He believed that there were alternative ways of cultivating support from other countries, instead of achieving goals using military strength.
Soft power is, at its root, the ability to convince other states to do what you want without force.
This is traditionally achieved by proving that you share morals and values.
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The smuggler
Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple.
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.
Khouli conviction
Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.
For sale
A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.
- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico
- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000
- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
