Oil firm awards $1.6B contract to BGP

DUBAI - Abu Dhabi National Oil Co has offered a contract worth $1.6 billion to a Chinese company for the world's largest 3D seismic survey, United Arab Emirates state news agency WAM reported on Thursday.

Bureau of Geophysical Prospecting Inc., a subsidiary of China National Petroleum Co, won the contract for the onshore and offshore survey covering an area up to 53,000 square kilometers, the report said.

ADNOC said the contract was let as the Abu Dhabi government-controlled firm continues to explore new opportunities and maximize value from its hydrocarbon resources to deliver on its 2030 smart growth strategy.