Chinese company received a $1.6 billion contract for seismic survey in UAE

Beijing. Jul 23. Silkroadnews - Abu Dhabi National Oil Co (ADNOC) has offered a $1.6 billion contract to the Chinese company to conduct the world’s largest 3D seismic prospecting project, Xinhua reported.
Bureau of Geophysical Prospecting Inc. (BGP), a subsidiary of China National Petroleum Co (CNPC), has won the contract for the onshore and offshore seismic survey covering an area of up to 53,000 square kilometers.
According to ADNOC, contract was let as the Abu Dhabi government-controlled firm continues to explore new opportunities and maximize value from its hydrocarbon resources to deliver on its 2030 smart growth strategy, the report reads.
Sultan Ahmad Al Jaber, the UAE minister of state, noted that the contract represents another “milestone in ADNOC’s thriving partnership with CNPC and the UAE’s strategic energy partnership with China”.
In turn, Wang Yilin, chairman of CNPC, said “ADNOC has embarked on an ambitious project to explore hydrocarbon reserves, and BGP is best placed to bring leading technology to Abu Dhabi to support this program.”
CNPC is one of the largest global partners of ADNOC, which has a share in major onshore and offshore concessions in Abu Dhabi.
Being the world’s largest supplier of geophysical services, BGP is the main provider of such services to major oil companies.