SOCAR joins ADNOC’s digitally advanced SARB, Umm Lulu concessions offshore UAE

June 03, 2024

(WO) – ADNOC has signed an agreement to award a 3% participating interest in the SARB and Umm Lulu offshore concessions to SOCAR. This award builds on an energy partnership between the United Arab Emirates (UAE) and Azerbaijan and deepens ADNOC’s growing partnership with SOCAR across the energy value chain. 

The SARB and Umm Lulu offshore concessions deploy cutting-edge digitalization and AI technologies for remote monitoring, smart well operations and production management to optimize production efficiency, reduce emissions, enhance safety and increase production capacity.

This agreement builds upon previous collaborations between the two companies, including ADNOC's acquisition of a 30% equity stake in Absheron offshore gas and condensate field in the Caspian Sea, and a Strategic Collaboration Agreement on the potential development of low carbon energy technologies, including hydrogen and geothermal.

Rovshan Najaf, President of SOCAR said, “This is our first international upstream investment, and we are particularly delighted to make this investment in Abu Dhabi, building upon our bilateral strategic relationships. We are committed to advance our energy partnership with ADNOC even further and continue cooperating in many more projects of mutual interest."

Both fields at the SARB and Umm Lulu concessions use Intelligent Well Surveillance (IWS) technology, allowing them to operate wells at an optimum rate to drive operational efficiency.

The Satah Al Razboot (SARB) field is roughly 200km offshore Abu Dhabi. The Umm Lulu field is approximately 30 km northwest offshore Abu Dhabi. The financial details of the transaction were not disclosed.

Lead image: The Absheron field (Source: SOCAR)

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