ABU DHABI / WAM
The Abu Dhabi National Oil Company (ADNOC) announced a significant investment to upgr-ade its Bab field, re-energising one of its largest onshore
producing assets to sustain and enhance output.
This is an important step towards delivery of the ADNOC group’s 2030 smart growth strategy that seeks to increase its crude oil production capacity
and reduce cost, creating a more profitable upstream business.
ADNOC’s plans to upgrade
operations at its maturing Bab field will enable production levels to be sustained and production capacity to be increased from 420,000 barrels of oil
per day to 450,000 barrels of oil per day by 2020.
Dr. Sultan Al Jaber, Minister of State and ADNOC Group CEO, said, “The decision to modernise our production infrastructure at the large Bab field, is another clear signal that ADNOC is making smart investments to increase production capacity, enhance long-term productivity and maximise the profitability of Abu Dhabi’s oil reserves, as we create a more profitable upstream business, in line with our Supreme Petroleum Council
approved 2030 growth strategy.”