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ADNOC’s Thamama Centre generates US$1.1 billion in value

ADNOC’s Thamama Centre generates US$1.1 billion in value

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The Abu Dhabi National Oil Company (ADNOC) has announced that its Thamama Centre of Excellence has generated US$1.1 billion (4.04 billion dirhams) in business value since its inception in 2017. The announcement was made at ADNOC’s Innovation Week which is taking place virtually from February 21st to 25th 2021.

Named after the reservoir formation most dominant in Abu Dhabi, Thamama is a key part of ADNOC’s ongoing strategic investments in advanced technology, digitalisation and Artificial Intelligence (AI) to drive greater efficiencies, quickly respond to market dynamics and enable smart growth as the company continues to deliver on its 2030 strategy.

Located in ADNOC’s headquarters, the state-of-the-art hub brings together ADNOC’s leading subsurface experts and leverages Big Data cutting-edge digitalisation, and smart analytics to help access hydrocarbon resources and unlock greater value from existing reservoirs. Thamama also drives innovation across ADNOC’s upstream projects, optimises development costs and enhances value from all producing onshore and offshore fields in the Emirate of Abu Dhabi.

Yaser Saeed Al Mazrouei, Executive Director, ADNOC Upstream, said: “The value generated by Thamama since its start in 2017 highlights how ADNOC is harnessing advanced technologies, digitalisation and Big Data as well as deep engineering expertise to maintain ADNOC’s position as a leading low cost and low carbon player in our industry. Thamama is also helping us to nurture the UAE’s next generation of engineers and data scientists, as well as serving as a hub to harness AI solutions together with the recently established joint venture between ADNOC and G42, AIQ. As part of ADNOC’s broader transformation, we continue to make smart investments in value-creating innovation across our upstream portfolio to unlock and maximise value for the UAE, in line with the wise directives of the leadership.”

Some of Thamama’s existing technology initiatives include one of the world’s largest co-development of oil rim and gas cap reservoirs. This innovative concept will enable ADNOC to competitively monetise several trillion cubic feet of gas and associated condensate while maximising the oil value. Thamama is also engaged in optimising field development costs by designing wells with custom-fit completions and deploying them at scale.

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