Search DubaiPRNetwork.com

Home >> Energy and Industry

ADNOC's Al Dhafra Petroleum Joint Venture Celebrates First Oil Production from Haliba Field

ADNOC's Al Dhafra Petroleum Joint Venture Celebrates First Oil Production from Haliba Field

Thursday, July 4, 2019/ Editor -  

Share

Home >> Energy and Industry
  • Leading government delegation from South Korea arrive in the UAE to mark the success of Haliba
  • Al Dhafra Petroleum is a joint venture between ADNOC and South Korea’s KNOC and GS Energy
  • Haliba is a building block of ADNOC’s oil production capacity growth to 4 million bpd by the end of 2020 and demonstrates ADNOC’s ambition to unlock and maximize value from all of Abu Dhabi’s oil and gas resources
  • First oil comes as Al Dhafra Petroleum discovers three new fields near Haliba following intensive exploration 

Abu Dhabi, UAE – July 4, 2019:  Al Dhafra Petroleum, a joint venture between the Abu Dhabi National Oil Company (ADNOC), the Korea National Oil Company (KNOC) and GS Energy, and one of ADNOC’s youngest operating companies, announced, today, it has begun producing crude oil from Abu Dhabi’s Haliba field and discovered potential resources in three new fields in its concession area. The success of Haliba reinforces the UAE’s and South Korea’s strategic bilateral relations and reflects the importance ADNOC places on its long-term partnership with South Korea’s energy sector. 

Haliba field, located along the southeast border of Abu Dhabi emirate, is a building block of ADNOC’s oil production capacity growth to 4 million barrels per day by the end of 2020. ADNOC said the initial production from the field would progressively increase to 40,000 bpd by the end of 2019 as Al Dhafra Petroleum further unlocks the substantial potential of the field.

Al Dhafra Petroleum embarked on an extensive appraisal program in Haliba field that enabled it to discover 1.1 billion barrels of original oil in place (OOIP), a significant increase from the 180 million initially estimated. At the same time, it discovered potential resources in three new fields – Al Humrah, Bu Tasah, and Bu Nikhelah – following intensive exploration programs. 

This is the first time Al Dhafra Petroleum is producing crude since it was established in 2014 and, to commemorate the milestone, a special ceremony was held at ADNOC Headquarters, where His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, hosted a government delegation from South Korea led by His Excellency Ilpyo Hong, Chairman of the Trade, Industry, Energy, SMEs, and Start-Ups Committee of the National Assembly of South Korea; and included His Excellency Youngjoon Joo, South Korea’s Deputy Minister of Trade, Industry and Energy; Suyeong Yang, President and CEO of KNOC; Yongsoo Huh, President and CEO of GS Energy; members of South Korea’s National Assembly; and government officials from South Korea.  

H.E. Dr. Al Jaber said: “The start of production from Haliba field highlights the important role of energy cooperation in strengthening the close and deep-rooted strategic relationship between the UAE and South Korea. ADNOC has a successful history of partnership with South Korea’s energy sector, and we continue to place great importance on this strategic partnership as we accelerate delivery of our 2030 smart growth strategy.

“First oil from Haliba demonstrates our ambition to unlock and maximize value from all of Abu Dhabi’s oil and gas resources to create long-term and sustainable returns for the UAE and our partners as we respond to the world’s growing demand for energy. ADNOC is committed to delivering a more profitable upstream business and expanding our oil production capacity, and the production from Haliba field is an integral part of achieving our targets.”

Al Dhafra Petroleum plans to accelerate oil production from these fields by utilizing modularized production units that provide swift and innovative production capability and will transport the oil for processing using trucks. This efficient approach can unlock immediate value by reducing the oil’s ‘discovery-to-market’ cycle to less than two years, increasing profitability and shareholder value. 

H.E. Ilpyo Hong said: “Given the utmost importance of securing a stable oil supply source to Korea, successful first oil production in Haliba field is a very meaningful event,” adding that the announcement will strengthen the South Korea-UAE strategic bilateral relationship as the two countries’ mutual interests expand over the long term.
 
ADNOC said Haliba field will serve as the main production hub in Al Dhafra Petroleum’s concession area and enable it to unlock value from other nearby prospects. Al Dhafra Petroleum continues to explore an additional 70 prospects in its concession area.

Al Dhafra Petroleum utilizes smart oilfield innovation at Haliba field to reduce operating costs while maximizing value from the development of other nearby marginal fields. Operational data is integrated into a centralized system that allows for remote monitoring of the site and provides unmanned facilities capability. 

To optimize ADNOC’s infrastructure, the crude oil produced from the Haliba field is transported to ADNOC Onshore’s Asab Central Degassing Station for processing. After processing, the stabilized crude is then transported via ADNOC Onshore’s existing main oil lines to the marine export terminals for export.

Al Dhafra Petroleum – 60 percent owned by ADNOC and 40 percent by KNOC and GSE Energy, which is represented by the Korean Abu Dhabi Oil Consortium (KADOC) – is focused on exploring and developing its concession areas to assess the commercial value of several promising fields through an agile operating model.


Previous in Energy and Industry

Next in Energy and Industry


Home >> Energy and Industry Section

Latest Press Release

Airbus forecasts need for over 39,000 new aircraft in the next 20 years

Two-i is back at GITEX aiming to help cities in search of happiness

BCG's 2019 SEDA Global Standings, Report GCC as a Global Leader

Make ‘The Rule of 4' your walking mantra, advises doctor

GUESS' Denim Fit Guide for Men

Mohammed Bin Rashid Space Centre and National Geographic Release First Film on U ...

CEO of Emirates Steel calls for fundamental shift in GCC steel industry

Etisalat's 5G Experience Bus showcases real life use cases

La French Tech and the latest in innovation to be showcased at GITEX 2019

Mintsa: Successfully launching in the UAE

Burberry Beauty reveals its runway make-up look, inspired by the September 2020 ...

International Maritime Organization appoints first Emirati woman as IMO Goodwill ...

The Rack by Kachins Presents PS20

UAE Obesity Masterclass V.2 calls for improving awareness, bolstering the effici ...

Al Yousuf Motors hosts the UAE debut of the new MG5

Arabian Automobiles Renault and GEMS Education come together to promote road saf ...

UAE delegation concludes a series of visits to European countries ahead of the W ...

Epson partners with Tenaui to participate in Xposure photography festival

Bee My Love – Cocktail Rings

Peru brings craftsmanship and exclusive designs to the region's design and hospi ...