Media ININ Economy We Trust
06-02-2019 Media in\ Abu Dhabi
Abu Dhabi National Oil Company (ADNOC) announced today the award of a contract for the establishment of a number of artificial islands in the first phase of the development of the Gasha franchise, where the National Marine Dredgers Company won the AED 5 billion contract after a competitive tender.
ADNOC said that the project will achieve local added value of more than 70% of the value of the contract.
The National Marine Dredging Company will establish 10 artificial islands and two bridges, as well as the expansion of one of the existing islands, “Island of Cap.” The project is expected to take 38 months and will provide the necessary infrastructure for the development, drilling and production of the giant Gasha gas concession, which includes the fields of Al Hill, Gasha, Dalma, Nasr and Mabares. The project will provide at the peak of its construction operations more than 3,500 jobs.
The signing of the agreement was signed by Dr. Sultan bin Ahmed Al Jaber, Minister of State and Chief Executive Officer of Abu Dhabi National Oil Company (ADNOC) and its Group of Companies, HE Mohammed Morshed Al Rumaithi, Chairman of National Marine Dredging Company, HE Dr. Sheikha Salem Al Dhaheri, Acting Secretary General of Environment Agency – Abu Dhabi.
The agreement was signed by Abdul Munim Al Kindi, CEO of ADNOC Exploration, Development and Production and Yasser Nasr Zaghloul, CEO of National Marine Dredging Company.
“In line with the leadership’s directives to ensure the optimal utilization of Abu Dhabi natural resources and to enhance the contribution of the oil and gas sector to the growth of the local economy, this contract will accelerate the development of the giant offshore Gasha, which is a major part of ADNOC’s integrated 2030 strategy for smart growth aimed at securing a sustainable and sustainable gas supply is one of the world’s largest high-acid gas projects and will directly contribute to enabling the UAE to achieve self-sufficiency in gas with the potential to become a source of gas. “He said.
“The National Marine Dredging Company has been selected following a competitive tender. The award of this project to a national company will contribute to a significant added local value that contributes to the growth of the local economy and reflects ADNOC’s rapid progress in its efforts to maximize Potential value of hydrocarbon resources “.
ADNOC has examined the extent to which developed companies can contribute to enhancing local value added at various stages of implementation within the overall commercial evaluation criteria, which include a special item to enhance this value.
ADNOC’s strategy to enhance local value added aims to support and document local and international partnerships and provide more opportunities for promoting economic and social growth, knowledge sharing and job creation for citizens in the private sector.
The offer, presented by National Marine Dredging Company, gives priority to the supply of project materials from sources within the UAE and the use of local suppliers and manufacturers with total expenditure of AED 3.62 billion. The company will also collaborate with international partners to implement the project.
The names of the new islands were selected in the Gasha concession from the pearl fishing diving sites, reflecting the region’s historical and cultural richness. The names of Ghanim, Salame, Jananez, Medifina, Al-Seba, Al-Simeh, Al-Shalhah, Al-Jazul and Al-Darboob. These islands have been a major component of Emirati culture for more than 7,000 years.
ADNOC recently held a stake in the Gasha franchise for Italy’s Eni (25%), Wintershal (10%) and Austria’s Oum (5%).
The project is expected to produce more than 1.5 billion cubic feet of gas per day when it starts in the middle of the next decade, enough to meet the needs of more than 2 million homes. With the completion of the project, it will also produce more than 120,000 barrels of oil and high-value condensate daily.
