ADCO hands Genesis US $1 b. project to develop Asab field
Abu Dhabi Company for Onshore Operations (ADCO) has handed Genesis oil & gas consulting the contract for the study and development of Asab fields to effectively increase the field's production to 340,000 barrels per day.
Abu Dhabi Company for Onshore Operations (ADCO) has awarded a contract to Genesis oil & gas consulting for the development of Asab field, Oil&Gas Middle East can reveal. The contract is to study and plan a production increase from the current 280,000 barrels per day (bpd) to 340,000 bpd.
According to Ventures Middle East, a data management company in the region, the contract will include an assessment of the existing surface production facilities and make recommendations on how they should be expanded to take into account a rising water cut and gas lift requirement.
The study will also look at options for replacing the existing production facilities at the adjoining Sahil and Shah fields.
When contacted, the project manager for ADCO confirmed the award, but did not give any more details.
However, according to senior ADCO sources, the development will include drilling new wells, maintaining production from existing ones and the installation of about 200 km of oil transmission pipelines, water re-injection and gas inlet compressors.
A front-end engineering design (FEED) tender is expected to be put out by early 2006, which will be followed by an engineering, procurement and construction contract in mid or late 2006.
The entire contract is valued at US $1 billion. Genesis confirmed the existence of the project and its involvement, but declined to give further details.