Inside Abu Dhabi’s $30 billion Upper Zakum megaproject
The Upper Zakum Oil Field is the largest producing field in ADNOC’s portfolio. It is also the second-largest offshore oil field and the fourth-largest oil field in the world.
As part of ADNOC’s ambitious target to accelerate the delivery of its 2030 smart growth strategy, the company plans to increase the field capacity of Upper Zakum to 1 million barrels per day (mbpd) by 2024 through a mega-expansion project valued at $29.9 billion (AED 110 billion). This will amplify the UAE’s output as it aims to achieve a 5 million barrels per day production capacity by 2027, up from the existing 4 million bpd.ADNOC is currently eyeing contractors to award a sizable contract for the megaproject.