UAE's ADNOC invests $490 million to upgrade Bab onshore field | ZAWYA MENA Edition:
The Abu Dhabi National Oil Company (ADNOC) is investing 1.8 billion dirhams ($490 million) to upgrade Bab, one of its largest onshore producing assets.
The investment in Bab onshore field, located 160 kilometers southwest of Abu Dhabi, will be through an Engineering, Procurement and Construction (EPC) contract, that will achieve In-Country Value (ICV) in excess of 75 percent, ADNOC said in a statement.
ADNOC Onshore, a subsidiary of ADNOC and the operator of the field, awarded the EPC contract to Archirodon Construction Overseas SA Co (Archirodon) to build the facilities and infrastructure required to sustain long-term crude oil production capacity of the field at 485,000 barrels per day (bpd), the statement added.
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