TWMA Clinches Upper Zakum Field Contract (UAE)
- Business & Finance
TWMA, a provider of integrated drilling services and environmental solutions, today announces a contract win for Zakum Development Company’s (ZADCO) flagship UZ 750 Project at Abu Dhabi’s Upper Zakum field, the fourth largest oilfield in the world.
Scheduled to begin in December 2012, the contract, worth up to 20 million USD, will see TWMA design, commission and operate an advanced solids control and fluid recovery system for the artificial islands project – the first of its kind in the United Arab Emirates.
The contract is for a period of five years with two one-year extension options. Over the course of the project TWMA will deliver a range of specialist drilling services, including the handling, transfer, storage and treatment of both oil based and water based drill cuttings.
On winning the contract, TWMA sales director Rob O’Neill said: “Our cuttings handling solutions are leading the way in the field of drilling, making us the ideal partner for ZADCO on a project that has the potential to redefine oil production in the Middle East.”
This latest success means that TWMA has accelerated its global growth plan and is investing a substantial sum in a new onshore support facility in Abu Dhabi, which is due to open in early 2013. The facility will include provision for onshore support services including repair, maintenance and construction, as well as office accommodation and yard and warehousing space.
As a result, a significant number of new positions will be created in the Middle East, including project managers, offshore supervisors, operators and support staff with a number of opportunities in Aberdeen also being created to provide associated support services.
The UZ 750 Project is one of the largest offshore oilfield development projects in the United Arab Emirates and aims to increase oil production from the Upper Zakum field to 750,000 barrels per day and to sustain this level of production for at least 25 years.
November 28, 2012