By: Ramy Sameeh
Abu Dhabi-Mubasher: Abu Dhabi Marine Operating Company (Adma-Opco), a subsidiary of Abu Dhabi National Oil Company (ADNOC), is planning on decreasing expenses and costs within a range from 15% to 20% in 2016, said CEO Ali Rashid Al-Jarwan.
Adma-Opco has rationalized spending by 16% in 2015, the CEO said on the sidelines of Abu Dhabi Global Summit of Marine & Maritime Leaders.
Al-Jarwan noted that the company is currently developing three fields as part of the company’s strategy of increasing the production rate.
The company is working on the development of Umm Lulu field, the CEO said, adding that 40% of the work has been accomplished and completion is expected in 2018.
Meanwhile, 30% of Al-Naser field’s work is completed according to Al-Jarwan who expected it to become operational in 2019.
