2012-07-29 16:14:20
WAM Abu Dhabi, 29th July 2012 (WAM) --Abu Dhabi Marine Operating Company (ADMA-OPCO) announced that 2011 was a defining year for its performance exceeded the set Key Performance Indicators (KPIs) and in the same time continued to invest for the future with an uncompromising focus on delivering value and increasing the momentum in business.

''Our growth agenda saw significant strides in terms of project expansions, technology transfer and people empowerment. Having implemented many initiatives, we managed to maintain our solid growth and deliver strong results, despite the enormous challenges facing the oil and gas industry, ''Ali Rashid Al-Jarwan, Chief Executive Officer, said in the forward of the 2011 Review.

''We introduced a set of radical changes in the strategy, structure and process of the entire system of the organisation which helped us in fulfilling our Shareholders' expectations and meeting the targets of our project expansion scheme. A structural reshuffle was made to cater for our organisational growth where new divisions were established and several others merged or restructured.

''I'm pleased to say that we have successfully met the challenges in carrying out our activities according to our shareholders guidelines. We managed to achieve our KPIs in such areas as production, drilling, technology, applying international best practices, Nationalisation and people development while maintaining our high Health, Safety '&' Environment (HSE) performance. The organization maintained all unwanted incidents/events under control as per the set KPI's and actually exceeded the stretch targets in most cases,'' he added.

''Our endeavors to achieve excellence in all aspects of our business have borne fruit.

In 2011, ADMA-OPCO was announced winner of the prestigious Sheikh Khalifa Excellence Award. Our HSE performance also continued to win awards for the company, including five awards in ADNOC HSE Competition.

In terms of operations, he said new field development programmes started to take shape, with promising indicators for progress and sustainable growth.

The company marked its 50th Anniversary of the first shipment of crude oil produced from Umm Shaif Field and exported via Das Island on 4th of July 1962.

As part of ADMA-OPCO's Lower Zakum +100 MBD programme aimed at enhancing the oil production capacity from Zakum Field, a shutdown management framework was established.

New Fields Division (NFD) focused during the year on providing operations readiness assurance of the new field projects, i.e. SARB, UMM LULU and NASR. These are mega expansions for ADMA-OPCO comprising 2 offshore complexes (similar to ZK '&' US), 17 Wellhead Towers, 2 artificial islands, extensive processing and infrastructure facilities on ZIRKU Island with associated transmission lines and trunk lines.

The Drilling Division drilled and completed 22 wells as per the chart below, introducing latest technologies as part of its vision to keep abreast with the fast paced field development expansion plans in the company.

No LTI (Lost Time Incident) was recorded for 3.7 million man hours (2 Year) of operations.

Several HSE rig inspections, workshops and campaigns were carried out during the year to attain this remarkable HSE performance.

WAM/TF