ADNOC plans to integrate the operations of the Abu Dhabi Marine Operating Co. and Zakum Development Co. into a single new organization.
(Image courtesy ADNOC)

Offshore staff

ABU DHABI, UAEADNOC plans to integrate the operations of the Abu Dhabi Marine Operating Co. (ADMA-OPCO) and Zakum Development Co. (ZADCO) into a single new organization.

The aim is to deliver efficiencies and synergies across the multiple ADMA-OPCO and ZADCO concessions and fields offshore the UAE, including Zakum, the world’s largest offshore field in terms of reserves. 

ADNOC claims the resultant new company will be more agile, more flexible in adapting to changing market demands, and best positioned to take advantage of future growth opportunities. 

H.E. Dr. Sultan Al Jaber, UAE Minister of State and CEO of the ADNOC Group, said: “The consolidation will facilitate enhanced operational performance while providing strategic benefits for future growth and advanced technology integration.

“Importantly, it will unite our offshore experience, streamline governance and decision making, and give management a better line of sight through the company’s operations.

“Consolidating the two companies into a single new entity responsible for operating the associated concessions will also help fulfil the ADNOC Group’s strategic imperative of creating a more profitable upstream business—benefiting both ADNOC and its partners.”

BP, ExxonMobil, Japan Oil Development Co. (JODCO) and Total, ADNOC’s partners in ADMA-OPCO, are collaborating to maintain reliable operations, and maximize production volumes. ADNOC has a 60% share in ZADCO, the remainder held by ExxonMobil and JODCO.

A steering committee from all parties will oversee the integration. Yaser Al Mazrouei, CEO of ADMA-OPCO, has been appointed joint CEO of ADMA-OPCO and ZADCO.

The consolidation process should be concluded by early 2018. Thereafter the new offshore operating company will manage the associated offshore concessions. 

“The existing concession rights of our partners in the concessions currently operated by ADMA-OPCO and ZADCO will not be affected by the consolidation. Looking ahead, ADNOC will continue to review and consider all options, and pursue partners for concessions expiring in 2018,” Dr. Al Jaber added.


Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Shell Leverages Data to Transform from Reactive to Predictive Operations

This 6-page report describes how Shell engaged in a massive project with OSIsoft to transform the...

Selection, Use, Care and Maintenance of FR Clothing

For industries operating in an inherently dangerous environment, the importance of selecting the ...

Evolution or Revolution: IT / OT convergence means a world of possibilities

The oil and gas industry is experiencing a rapid paradigm shift in regards to digital transformat...