Al Shamsi ... cutting operating costs
Adnoc says aims to cut operating costs by 25pc
ABU DHABI, November 4, 2015
Abu Dhabi National Oil Company (Adnoc) is looking to take advantage of market conditions and bring down the operating cost of its projects by 25 per cent, a top executive said.
"From Adnoc's point of view, we are trying to bring down our operating expenditure by 25 per cent," Ali Khalifa Al-Shamsi, Adnoc's strategy and coordination director, said on the sidelines of a news conference ahead of the Abu Dhabi International Petroleum Exhibition and Conference (Adipec).
"We are making good progress towards it," Shamsi said.
A sharp fall on crude oil prices since last June has prompted companies across the oil sector to cut spending and shelve some projects.
Shamsi said Adnoc was continuing with all its projects and stressed that there were no delays to field maintenance as safety would always remain a top priority.
Reuters, citing sources, reported that Gulf oil producers were delaying some field maintenance work until next year to keep production high.-- Reuters
