Abu Dhabi Nationwide Oil Co. (ADNOC) has awarded a 3 % taking part curiosity within the SARB and Umm Lulu offshore concession to The State Oil Firm of the Republic of Azerbaijan (SOCAR).
The SARB and Umm Lulu concession deploys cutting-edge digitalization and AI applied sciences for distant monitoring, good nicely operations and manufacturing administration to optimize manufacturing effectivity, scale back emissions, improve security and enhance manufacturing capability, ADNOC stated in an announcement.
“We’re very happy to welcome SOCAR to the SARB and Umm Lulu concession. This award helps ADNOC’s technique to leverage strategic partnerships and superior applied sciences to maximise worth from Abu Dhabi’s vitality sources to make sure a safe, dependable and accountable provide of vitality”, Abdulmunim Saif Al Kindy, ADNOC Upstream Govt Director stated.
In an earlier transaction involving the 2 corporations, ADNOC acquired a 30 % fairness stake in Absheron gasoline and condensate discipline within the Caspian Sea. The pair additionally signed a strategic collaboration settlement on growing low-carbon vitality applied sciences, together with hydrogen and geothermal.
“That is our first worldwide upstream funding and we’re notably delighted to make this funding in Abu Dhabi, constructing upon our bilateral strategic relationships. We’re dedicated to advance our vitality partnership with ADNOC even additional and proceed cooperating in lots of extra tasks of mutual curiosity”, Rovshan Najaf, President of SOCAR, stated.
ADNOC stated that each fields on the SARB and Umm Lulu concession use clever nicely surveillance expertise, permitting them to function wells at an optimum charge to drive operational effectivity.
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