Bid & Tender

News

Inpex Looks to Integrate Zakum Fields

Japan’s Inpex is looking at ways to increase production by integrating its offshore Upper and Lower Zakum concessions in Abu Dhabi, the company’s CEO said.

 

“We have some plans to increase our production from Upper Zakum and Lower Zakum. Since Abu Dhabi has expressed that they are increasing the production to 5 million b/d [barrels a day], this will be a real challenging issue,” said Inpex CEO Takayuki Ueda.

 

The Upper Zakum field is operated by the Zakum Development Company (Zadco), a concession which includes the US’ ExxonMobil (28 per cent) and Inpex (12 per cent). Adnoc holds 60 per cent of the concession. It is expected to produce 750,000 b/d early next year, with a target of 1 million b/d by 2024.

 

Inpex also has a 10 per cent stake in the Lower Zakum concession, along with China National Petroleum Corporation (10 per cent), France’s Total (5 per cent), Italy’s Eni (5 per cent), and an Indian consortium led by ONGC Videsh (10 per cent). Adnoc holds the controlling 60 per cent share.

 

Lower Zakum is Adnoc’s largest single offshore field producing around 400,000 b/d. Adnoc plans to raise this to 450,000 b/d by 2025.

 

The combined output from Lower and Upper Zakum will be a key part of Adnoc’s target of reaching a production capacity of 4.5 million b/d by 2025, and 5 million b/d by 2030 under its new expansion plans.

BACK

Related News