Business

Adnoc’s Thamama Centre generates $1.1b in business since 2017

Wam


Last updated on February 22, 2021 at 01.53 pm
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The Abu Dhabi National Oil Company (Adnoc) announced on Monday that its Thamama Centre of Excellence (Thamama) has generated $1.1 billion (Dh4.04 billion) in business value since its inception in 2017.

The announcement was made at Adnoc’s Innovation Week, which is taking place virtually from February 21-25.

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 Abu Dhabi.

Speaking during the innovation week, Yaser Saeed Al Mazrouei, Adnoc Upstream Executive Director, 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.

Through Thamama, Adnoc is reducing exploration costs by hundreds of millions of dollars as it executes the world’s largest three-dimensional (3D) seismic survey which is providing 100 petabytes of high-resolution images of the subsurface across Abu Dhabi which are then turned into prospects by Adnoc’s experts, ultimately enabling drilling and potential for oil and gas production.

Thamama is also enabling Adnoc to integrate AI, advanced analytics and cloud computing into its reservoir management and subsurface workflows to enhance oil recovery and improve production efficiency by more than 10%. Its integrated capacity model creates a digital twin of Adnoc’s entire hydrocarbon value chain, potentially unlocking hundreds of millions of dollars in value every year.

Adnoc is working on over 15 new digitalisation projects in Thamama that offer the potential to deliver around $500 million in additional value per year when they are fully deployed over the coming years.

Thamama is just one of many digital transformation initiatives by Adnoc. Others include the Panorama Digital Command Centre which has generated over $1 billion (Dh3.67 billion) in value since inception. Adnoc is also applying AI-enabled technologies for value chain optimisation, predictive maintenance, and blockchain-based hydrocarbon accounting.

In addition, Adnoc has achieved cost savings of $2 billion (Dh7.36 billion) over the past five years by leveraging advanced technologies and digitalisation to optimise drilling operations. — Wam