{"id":97638,"date":"2024-11-07T00:00:00","date_gmt":"2024-11-07T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/adipec-day-three-more-agreements-from-adnoc\/"},"modified":"2024-11-07T00:00:00","modified_gmt":"2024-11-07T00:00:00","slug":"adipec-day-three-more-agreements-from-adnoc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/11\/07\/adipec-day-three-more-agreements-from-adnoc\/","title":{"rendered":"Adipec day three: More agreements from Adnoc"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>On the third day of Adipec, Adnoc continued to lead headlines<\/strong>, signing a series of agreements with major companies to ramp up its production of petrochemicals and accelerate the use of AI in its operations. We have a rundown of the agreements below.<\/p>\n<p class=\"tag-border-left\">PETCHEMS-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Ta\u2019ziz inks AED 7.34 bn contracts to expand Al Ruwais infrastructure:<\/strong> Ta\u2019ziz, a JV between the Abu Dhabi National Oil Company (Adnoc) and ADQ, awarded three engineering, procurement, and construction (EPC) contracts worth USD 2 bn (AED 7.34 bn) for infrastructure development at its chemicals and transition fuels site in Al Ruwais Industrial City, Abu Dhabi, according to an Adnoc <a target=\"_blank\" href=\"https:\/\/adnoc.ae\/en\/news-and-media\/press-releases\/2024\/taziz-announces-over-2-billion-awards-for-key-infrastructure-projects\" style=\"\" rel=\"noopener\">statement<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The contracts: <\/strong> <\/p>\n<ul>\n<li><strong><a target=\"_blank\" href=\"https:\/\/nmdc-group.com\/\" style=\"\" rel=\"noopener\">NMDC Group<\/a><\/strong> will develop <strong>a USD 300 mn <\/strong><strong>chemicals port<\/strong>, facilitating exports of chemicals and transition fuels like low-carbon ammonia and methanol and securing operational connectivity to regional and global markets. The project is expected to be completed within 25 months, according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/11\/565.pdf\" style=\"\" rel=\"noopener\">bourse disclosure (pdf)<\/a> ;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/www.rotaryeng.com.sg\/\" style=\"\" rel=\"noopener\">Rotary Engineering<\/a><\/strong><strong>\u2019<\/strong><strong>s Abu Dhabi division and <\/strong><strong><a target=\"_blank\" href=\"https:\/\/advario.com\/\" style=\"\" rel=\"noopener\">Advario<\/a><\/strong> secured a <strong>chemicals <\/strong><strong>terminal<\/strong> contract, covering building storage facilities, pipelines, and liquid product storage;<\/li>\n<li><strong><a target=\"_blank\" href=\"https:\/\/algeemi.com\/\" style=\"\" rel=\"noopener\">Al Geemi Contracting<\/a><\/strong> is responsible for developing <strong>site infrastructure<\/strong>, including internal roads, security fencing and buildings, and utilities like power, steam, cooling water, and water.<\/li>\n<\/ul>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>A \u201csignificant\u201d portion of the value of the EPCs will be injected back into the UAE <\/strong><strong>economy<\/strong> under the national in-country value (ICV) program, aiming to support growth in the Al Dhafra region. The ICV program rewards companies that prioritize localizing supply chains and attracting foreign investments.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Adnoc and ADQ established their joint venture (JV) Ta\u2019ziz in <a target=\"_blank\" href=\"https:\/\/www.adq.ae\/newsroom\/adnoc-and-adq-launch-taziz-joint-venture-to-drive-growth-in-uae-chemicals-sector\/\" style=\"\" rel=\"noopener\">November 2020<\/a> to propel industrial project development within the planned Ruwais Derivatives Park. The JV\u2019s first phase selected potential investment projects exceeding USD 5 bn (AED 18 bn).<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- These aren\u2019t the first EPC contracts awarded for Al Ruwais:<\/strong> In <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/3a45d3c9-ebc7-426f-ac78-25ac8fefd032\/adnoc-reaches-final-investment-decision-%2B-awards-usd-5.5-bn-contract-for%253cmark%253e-ruwais%253c%2Fmark%253e-lng-project#:~:text=Getting%20the%20ball,in%20March.\" style=\"\" rel=\"noopener\">June<\/a>, Adnoc handed out USD 5.5 bn in EPC contracts to a JV between engineering companies NMDC Energy, <a target=\"_blank\" href=\"https:\/\/www.ten.com\/en\" style=\"\" rel=\"noopener\">Technip Energies<\/a> and <a target=\"_blank\" href=\"https:\/\/www.jgc.com\/en\/\" style=\"\" rel=\"noopener\">JGC Corporation<\/a>, for its LNG project in Al Ruwais.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the site: <\/strong>The Al Ruwais 17 sqkm facility will produce caustic soda, ethylene dichloride, vinyl chloride monomer, polyvinyl chloride, low-carbon ammonia, and methanol, many of which will be manufactured in the UAE for the first time. Production is scheduled to start in 2027, with a target of 4.7 mn tonnes per year by 2028.<\/p>\n<p class=\"tag-border-left\">LNG EXPORTS- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc finalizes first long-term LNG agreement with SEFE subsidiary:<\/strong> Adnoc signed a 15-year sales and purchase agreement (SPA) with <a target=\"_blank\" href=\"https:\/\/www.sefe-mt.com\/\" style=\"\" rel=\"noopener\">Sefe Marketing &amp; Trading Singapore<\/a>, a subsidiary of Germany\u2019s state-owned energy firm Securing Energy for Europe, to supply it with 1 mn tonnes of liquefied natural gas (LNG) per year from its LNG project in Al Ruwais, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2024\/adnoc-secures-15year-1-mtpa-sales-and-purchase-agreement-for-ruwais-lng-project\/\" style=\"\" rel=\"noopener\">statement<\/a>. Deliveries from the project are set to begin in 2028. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Background: <\/strong>Adnoc and SEFE signed the preliminary agreement for the transaction <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39b1c076-be9f-416a-91c1-cb72267526cf\/adnoc-secures-another-lng-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">in<\/a><a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/39b1c076-be9f-416a-91c1-cb72267526cf\/adnoc-secures-another-lng-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">March<\/a>, subject to receiving regulatory approval and the companies reaching a definitive SPA. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>ICYMI- Al Ruwais has inked offtake agreements for 70% of its total production <\/strong><strong>capacity<\/strong>, including a 15-year agreement with <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2023\/adnoc-signs-first-long-term-lng-heads-of-agreement-from-ruwais-low-carbon-lng-project\" style=\"\" rel=\"noopener\">China's ENN Natural Gas<\/a> to deliver some 1 mn tonnes of LNG annually from the new plant, and a <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/777e4aea-5903-4594-8f55-bed39b972299\/adnoc-secures-another-15-year-lng-supply-agreement-for-al-ruwais\" style=\"\" rel=\"noopener\">15-year agreement<\/a> with German energy giant Energie Baden-W\u00fcrttemberg to supply it with 0.6 mn tonnes of LNG annually. Adnoc also signed long-term LNG supply agreements to deliver <a target=\"_blank\" href=\"https:\/\/enterprise.news\/uae\/en\/news\/story\/c316bbef-20db-4ce6-aa08-64f3fd6f45fd\/adnoc-sells-40%2525-of%253cmark%253e-ruwais%253c%2Fmark%253e-lng-project-%2B-secures-supply-agreements\" style=\"\" rel=\"noopener\">1.6 mn tonnes per year<\/a> from the new plant, with 1 mn metric tonnes to be supplied to Shell and 0.6 mn tons to be supplied to Mitsui.<\/p>\n<p class=\"tag-border-left\">MAPPING-<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Adnoc awarded a contract valued at up to AED 1.79 bn to BGP, a subsid<\/strong><strong>iary of <\/strong><strong>China National Petroleum Company<\/strong>, to expand its ongoing 3D seismic survey in Abu Dhabi, according to a <a target=\"_blank\" href=\"https:\/\/www.adnoc.ae\/en\/news-and-media\/press-releases\/2024\/adnoc-awards-490-million-contract-to-expand-worlds-largest-3d-seismic-survey\/\" style=\"\" rel=\"noopener\">statement<\/a>. The contract aims to accelerate data interpretation using AI in a bid to identify additional oil and gas resources in Adnoc\u2019s onshore fields. Over 70% of its value will be reinvested into the national economy through Adnoc\u2019s ICV program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>About the survey: <\/strong>The seismic survey project was launched in 2018 to provide high-resolution data on the region's geological structure. It is the world\u2019s largest continuous 3D seismic survey, spanning 85k sqkm across onshore and offshore areas in Abu Dhabi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The oil giant inked more agreements targeting its Al Ruwais site<\/p>\n","protected":false},"author":1,"featured_media":97639,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1604],"tags":[57,72,143,7,505,636],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-97638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-energy","tag-adnoc","tag-adq","tag-energy","tag-enterpriseam-uae","tag-lng","tag-petrochemicals","wpautop","entry"],"acf":{"mongo_id":"48e6b2d3-4cbc-4656-a4bf-135878765665","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/5\/2072.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Adipec day three: More agreements from Adnoc","related_issue":[97631],"teaser":"The oil giant inked more agreements targeting its Al Ruwais site","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/11\/.7d701adf-6227-4c12-adc8-fef6d9276abb.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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