The Zakum Development Company (Zadco) awarded the contract worth as much as Dh3 billion (US$816.7m) to France's Technip and the UAE-based National Petroleum Construction Company (NPCC). Courtesy Adnoc
The Zakum Development Company (Zadco) awarded the contract worth as much as Dh3 billion (US$816.7m) to France's Technip and the UAE-based National Petroleum Construction Company (NPCC). Courtesy Adnoc
The Zakum Development Company (Zadco) awarded the contract worth as much as Dh3 billion (US$816.7m) to France's Technip and the UAE-based National Petroleum Construction Company (NPCC). Courtesy Adnoc
The Zakum Development Company (Zadco) awarded the contract worth as much as Dh3 billion (US$816.7m) to France's Technip and the UAE-based National Petroleum Construction Company (NPCC). Courtesy Adnoc

Zadco close to awarding Upper Zakum contract


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Abu Dhabi's push to increase its oil production capacity is gathering momentum with the impending award of a major work contract for one of the world's largest oilfields.

After a lengthy tendering process, the Zakum Development Company (Zadco) is close to awarding the first of two large engineering, procurement and construction contracts to boost capacity at the Upper Zakum field from 500,000 barrels per day (bpd) to 750,000 bpd by 2016.

Three contractors - J Ray McDermott, Saipem and Technip - are preparing bids ahead of the deadline on Sunday. A fourth bidder, Hyundai Heavy Industries, has been disqualified.

The field has been recognised as one of the world's major hydrocarbon deposits since the 1970s, but was initially seen as a non-commercial proposition because of the technical challenges of extracting oil from the rock formation when it was first discovered in 1963.

Production reached its current levels after ExxonMobil joined Zadco, a joint venture led by Abu Dhabi National Oil Company (Adnoc), and committed its technology to the extraction of the crude in 2006.

Upper Zakum is the largest part of a reservoir that is now classed as the second-largest field in the Gulf and the fourth-largest in the world.

Most of the new facilities will be housed on artificial islands, which are already being built.

A second contract to complete the expansion is scheduled to attract bids next month.

The upgrading of Upper Zakum is the most significant step yet by Adnoc to fulfil its long-held target to increase Abu Dhabi's production capacity from 2.8 million bpd to 3.5 million bpd. Such upgradings help to maintain the emirate's position as Opec's fourth-largest producer, and to protect its market share in the growing economies of Asia, the recipient of the bulk of its crude.

Abu Dhabi is "protecting relative strength within Opec", said Samuel Ciszuk, a consultant with KBC Energy Economics.

"Without expansion, Abu Dhabi would effectively be in decline … and would become a smaller player relative to other countries."

Saudi Arabia and Iraq are both engaged in major capacity expansions. Such work is also welcome news for oil-importing countries.

The International Energy Agency, which represents 28 oil consumers, has long warned that insufficient production increases would lead to a supply crunch that could undermine the global economy.

Crude prices have surged in recent weeks as sanctions on Iran combined with reduced or interrupted exports from South Sudan, Syria and Libya heightened fears of an impending supply impasse.

The deadline for Abu Dhabi's production rise to 3.5 million bpd has been pushed back several times, moving from 2006 to last year, to the current target of 2018. Since 2009, Adnoc subsidiaries have started to award contracts to raise capacity at existing developments, and to tap undeveloped fields.

The award of the first Upper Zakum project was originally due to be made at the end of last year, but was delayed because companies had to resubmit their technical bids to accommodate changing technical specifications, according to sources involved in the process. The upgrade of Upper Zakum capacity will be developed in three phases. The first phase will boost production capacity by 100,000 bpd, and a further 150,000 bpd will be added in the second phase.

A final phase will ensure that production can be maintained over a 25-year period.

Some of Darwish's last words

"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008

His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.

Dates for the diary

To mark Bodytree’s 10th anniversary, the coming season will be filled with celebratory activities:

  • September 21 Anyone interested in becoming a certified yoga instructor can sign up for a 250-hour course in Yoga Teacher Training with Jacquelene Sadek. It begins on September 21 and will take place over the course of six weekends.
  • October 18 to 21 International yoga instructor, Yogi Nora, will be visiting Bodytree and offering classes.
  • October 26 to November 4 International pilates instructor Courtney Miller will be on hand at the studio, offering classes.
  • November 9 Bodytree is hosting a party to celebrate turning 10, and everyone is invited. Expect a day full of free classes on the grounds of the studio.
  • December 11 Yogeswari, an advanced certified Jivamukti teacher, will be visiting the studio.
  • February 2, 2018 Bodytree will host its 4th annual yoga market.
Global state-owned investor ranking by size

1.

United States

2.

China

3.

UAE

4.

Japan

5

Norway

6.

Canada

7.

Singapore

8.

Australia

9.

Saudi Arabia

10.

South Korea

The specs
  • Engine: 3.9-litre twin-turbo V8
  • Power: 640hp
  • Torque: 760nm
  • On sale: 2026
  • Price: Not announced yet
F1 The Movie

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Director: Joseph Kosinski

Rating: 4/5

Company profile

Name: The Concept

Founders: Yadhushan Mahendran, Maria Sobh and Muhammad Rijal

Based: Abu Dhabi

Founded: 2017

Number of employees: 7

Sector: Aviation and space industry

Funding: $250,000

Future plans: Looking to raise $1 million investment to boost expansion and develop new products

Ferrari 12Cilindri specs

Engine: naturally aspirated 6.5-liter V12

Power: 819hp

Torque: 678Nm at 7,250rpm

Price: From Dh1,700,000

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THE SIXTH SENSE

Starring: Bruce Willis, Toni Collette, Hayley Joel Osment

Director: M. Night Shyamalan

Rating: 5/5

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SPECS
%3Cp%3EEngine%3A%20Twin-turbocharged%204-litre%20V8%3Cbr%3EPower%3A%20625%20bhp%3Cbr%3ETorque%3A%20630Nm%3Cbr%3EOn%20sale%3A%20Now%3Cbr%3EPrice%3A%20From%20Dh974%2C011%3C%2Fp%3E%0A
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%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
The Sand Castle

Director: Matty Brown

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

Rating: 2.5/5

Dubai Bling season three

Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed 

Rating: 1/5

A Bad Moms Christmas
Dir: John Lucas and Scott Moore
Starring: Mila Kunis, Kathryn Hahn, Kristen Bell, Susan Sarandon, Christine Baranski, Cheryl Hines
Two stars

UK-EU trade at a glance

EU fishing vessels guaranteed access to UK waters for 12 years

Co-operation on security initiatives and procurement of defence products

Youth experience scheme to work, study or volunteer in UK and EU countries

Smoother border management with use of e-gates

Cutting red tape on import and export of food

UAE currency: the story behind the money in your pockets
PROFILE BOX

Company name: Overwrite.ai

Founder: Ayman Alashkar

Started: Established in 2020

Based: Dubai International Financial Centre, Dubai

Sector: PropTech

Initial investment: Self-funded by founder

Funding stage: Seed funding, in talks with angel investors

Christopher Robin
Starring: Ewan McGregor, Haley Atwell, Jim Cummings, Peter Capaldi
Three stars

Tearful appearance

Chancellor Rachel Reeves set markets on edge as she appeared visibly distraught in parliament on Wednesday. 

Legislative setbacks for the government have blown a new hole in the budgetary calculations at a time when the deficit is stubbornly large and the economy is struggling to grow. 

She appeared with Keir Starmer on Thursday and the pair embraced, but he had failed to give her his backing as she cried a day earlier.

A spokesman said her upset demeanour was due to a personal matter.

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
Profile of Tamatem

Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

Funding: $6m

Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media

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Frida%20
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'Operation Mincemeat' 

Director: John Madden 

 

Cast: Colin Firth, Matthew Macfayden, Kelly Macdonald and Penelope Wilton

 

Rating: 4/5