Bunduq

Bunduq Oil Field Profile

Location

The Bunduq Oil Field is located approximately 100 kilometers offshore, roughly halfway between the UAE's Daiyinah and Das Islands. It straddles the maritime boundary between the Emirate of Abu Dhabi and the State of Qatar, about 200km west of Abu Dhabi city and 100km east of Doha.

Coordinates

The exact coordinates of the field are 25.216, 52.72 (WGS 84).

Water Depth

The field is situated in shallow water with a depth of approximately 75 feet.

Operator and Ownership

The Bunduq Oil Field is operated by Bunduq Company Limited. The field is owned by United Petroleum Development Company Limited, although the ownership and operational responsibilities are shared equally between Abu Dhabi and Qatar under a unitisation agreement.

Field Participation

The field participation involves a joint venture where Cosmo Energy Exploration & Production and JX Nippon Oil & Gas Exploration are also involved, reflecting the shared interests between Abu Dhabi and Qatar.

Discovery and Production

• Discovery Year: 1965.
• Production Start Year: Commercial oil production commenced in 1975 using a natural depletion scheme. Water injection was implemented from 1983 to maintain reservoir pressure.

Production Details

• Peak Production: The field reached its peak production in 1970, with a significant portion of its total recoverable reserves already recovered (97.33% as of recent data).
• Current Production: As of 2012, the field produced approximately 6.39 million barrels of oil per year.
• Production Forecast: Based on economic assumptions, production is expected to continue until the field reaches its economic limit in 2033.

Geology

The Bunduq Oil Field involves several reservoirs, including the Arab D, Arab C4, and Uwainat reservoirs.

Development and Infrastructure

The development of the field has been a collaborative effort between Abu Dhabi and Qatar. The field's infrastructure includes various wells and facilities necessary for oil production and water injection to maintain reservoir pressure.

Economic and Fiscal Aspects

The operation of the Bunduq Oil Field involves shared costs, reserves, and production between Abu Dhabi and Qatar. The economic analysis includes considerations of capital and operating costs, sales contracts, royalty, income tax, and depreciation. The report from Wood Mackenzie provides detailed economic assumptions, cash flow analysis, and revenue splits.

Historical and Current Status

Bunduq Company Limited was established in December 1970 specifically to develop the El Bunduq oil field. The field has been in operation since 1975 and is recognized for its successful development due to the collaboration between Abu Dhabi and Qatar.

In summary, the Bunduq Oil Field is a significant offshore oil field in the UAE, operated under a unique unitisation agreement between Abu Dhabi and Qatar, reflecting a long-standing cooperative effort in oil production and resource management.