(Yicai Global) July 20 -- A unit under China National Petroleum has penned a AED5.8 billion (USD1.6 billion) deal to conduct the world's largest continuous 3D onshore and offshore seismic survey.
Abu Dhabi National Oil, or ADNOC, announced it had awarded the contracts to BGP in an online statement yesterday. The survey will cover an area as great as 53,000 square kilometers, with just less than three fifths being carried out offshore.
ADNOC offered the tender earlier this year during a slump in the geophysical surveying industry, attracting attention from some of the world's top surveyors. The signing ceremony for the milestone contract was witnessed by China National Petroleum Chairman Wang Yilin, and ADNOC's Chief Executive Sultan Ahmed Al Jaber.
BGP will relish the opportunity to enhance its technical services and build a quality project that will go down in history, said its President Gou Liang. It hopes to contribute to oil and gas development in the United Arab Emirates, grow China National Petroleum into a world-class energy company and aid in construction along the Belt and Road, he added.
The Belt and Road was proposed by Chinese President Xi Jinping and is a 30- to 40-year grand plan for a trade and infrastructure network spanning, roads, rails, pipes and oceans in Africa, Asia, Europe, South America and Australia.