The agreement allows for the cross-sharing of advanced technology and innovation best practices from two of the world’s leading oil and gas companies, and builds on their long-standing partnership
The Abu Dhabi National Oil Company (ADNOC) has signed a strategic framework agreement with Exxon Al Khalij Inc. (ExxonMobil), focused on exploring joint technology research and development (R&D) partnership opportunities across the oil and gas upstream value chain.
Under the terms of the agreement, ADNOC and ExxonMobil will identify areas of mutual interest for conducting R&D and co-developing technology solutions that will help increase upstream operational efficiencies, strengthen health, safety and environment (HSE) management, and unlock business value. Initial areas identified include advanced non-metallic solutions, field testing and integrity management, smart reservoir management and well monitoring systems, and innovative emergency response systems.
The agreement allows for the cross-sharing of advanced technology and innovation best practices from two of the world’s leading oil and gas companies, and builds on their long-standing partnership.
Mr. Abdulmunim Saif Al Kindy, Executive Director, People, Technology & Corporate Support Directorate at ADNOC, said: “We are excited to be expanding on our long-standing partnership to lay the foundation for ADNOC and ExxonMobil to share advanced technology learnings as well as accelerate the pace of technology development. This strategic partnership aligns with our broader focus to embed advanced technologies across ADNOC’s full value chain to drive greater cost and carbon efficiencies as we deliver on our 2030 smart growth strategy.”
Mr. Christian Lenoble, ExxonMobil UAE Lead Country Manager and President of Exxon Al Khalij Inc., added: “ExxonMobil’s unique approach to research and working across all parts of the innovation stream puts us in an advantaged position to progress energy solutions from lab to field-scale. We look forward to exploring R&D solutions with ADNOC to develop potential breakthroughs. Our discussions on R&D will also complement the technical contributions ExxonMobil has brought to the Upper Zakum concession since 2006.”
The Upper Zakum oil field, located 85km northwest of Abu Dhabi, is the second largest offshore oil field and the fourth largest oil field in the world. The Upper Zakum joint venture partners, including ADNOC and ExxonMobil, are increasing production capacity to 1 million barrels per day by 2024 through the innovative artificial island-development combined with extended reach drilling technology.
This agreement is just one of many innovation initiatives by ADNOC to embed cutting-edge technology across its entire value chain. Other initiatives include its Artificial Intelligence (AI) and big data-driven “Panorama Digital Command Center”, its AI and digital subsurface “Thamama Center of Excellence”, its deployment of digital drilling technologies, and its use of computer vision technologies, big data modelling tools for value chain optimization, and block chain for hydrocarbon accounting, to name a few.
Source: Company Press Release