Performance exceeds KPIs : ADMA-OPCO says

Abu Dhabi, 29th July 2012 (WAM) --Abu Dhabi Marine Operating Company(ADMA-OPCO) announced that 2011 was a defining year for its performance exceeded the set Key Performance Indicators (KPIs) and in the same time continued to invest for the future with an uncompromising focus on delivering value and increasing the momentum inbusiness.

''Our growth agenda saw significant strides in terms of project expansions, technologytransfer and people empowerment. Having implemented many initiatives, we managed to maintain our solid growth and deliver strong results, despite the enormous challenges facing the oil and gasindustry, ''Ali Rashid Al-Jarwan, Chief Executive Officer, said in the forward of the 2011 Review.

''We introduced a set of radical changes in the strategy, structure and process of theentire system of the organisation which helped us in fulfilling our Shareholders?expectations and meeting the targets of our project expansion scheme. A structuralreshuffle was made to cater for our organisational growth where new divisionswere established and several others merged or restructured.

''I?m pleased to say that we have successfully met the challenges incarrying out our activities according to our shareholders guidelines. We managedto achieve our KPIs in such areas as production, drilling, technology, applyinginternational best practices, Nationalisation and people development while maintainingour high Health, Safety & Environment (HSE) performance. The organization maintained allunwanted incidents/events under control as per the set KPI?s and actually exceeded thestretch targets in most cases,'' he added.

''Our endeavors to achieve excellence in all aspects of our business have borne fruit.

In 2011, ADMA-OPCO was announced winner of the prestigious Sheikh KhalifaExcellence Award. Our HSE performance also continued to win awards for the company,including five awards in ADNOC HSE Competition.

In terms of operations, he said new field development programmes started to takeshape, with promising indicators for progress and sustainable growth.

The company marked its 50th Anniversary of the first shipment of crude oil produced from Umm Shaif Field and exported via Das Island on 4th of July 1962.

As part of ADMA-OPCO?s Lower Zakum+100 MBD programme aimed at enhancingthe oil production capacity from ZakumField, a shutdown management frameworkwas established.

New Fields Division (NFD) focused during the year on providingoperations readiness assurance of thenew field projects, i.e. SARB, UMM LULUand NASR. These are mega expansionsfor ADMA-OPCO comprising 2 offshorecomplexes (similar to ZK & US), 17Wellhead Towers, 2 artificial islands,extensive processing and infrastructurefacilities on ZIRKU Island with associatedtransmission lines and trunk lines.

The Drilling Division drilled andcompleted 22 wells as per the chartbelow, introducing latest technologiesas part of its vision to keep abreastwith the fast paced field developmentexpansion plans in the company.

No LTI (Lost Time Incident) was recorded for3.7 million man hours (2 Year) of operations.

Several HSE rig inspections, workshops andcampaigns were carried out during the year toattain this remarkable HSE performance.