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Upper Zakum Full Field Development Project - UZ1000
The project is about Engineering, procurement and construction (EPC) contract to develop an oil field to boost production by 1 million barrels a day (b/d). The first phase of the project is being carried out under an AED3bn ($817m) contract. It will add 100,000bpd in production capacity to the field. The second phase is being carried out under a $3.7bn contract. The second phase is expected to increase the production capacity by a further 150,000bpd. In November 2017, partners of the Upper Zakum field announced an agreement to increase production capacity to one million barrels a day by 2024. Client has announced it has undertaken a strategic project, with its partners, US energy major and an JapanÂ’s Company, to raise the Upper Zakum offshore field's oil output to 1 million barrels a day (b/d) by 2024 (UZ1000). The UZ1000 megaproject, which is critical to the group achieving its oil production goal of 5 million b/d by 2030, is estimated to cost $8bn, including drilling-related expenditure. It has awarded a contract for front-end engineering and design (feed) works in April, without naming the selected firm. It is understood that a Spanish contractor has been awarded the Feed contract. The UZ1000 project will capture synergies from the existing UZ750 project, optimising costs and maximising value for client and its partners. The Upper Zakum Development utilises extended reach drilling to optimise well numbers and enable maximum reservoir contact.
