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FINANCIAL NEWS
Abu Dhabi Gas awards contract to Honeywell
29 Jun 2010
(MENAFN) Abu Dhabi Gas Development Company (ADGDCL) said that it has selected Honeywell to help achieve safe and efficient production at its Shah Gas Development Project, Reuters reported
New Jersey-based Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.
ADGDCL, a subsidiary of Abu Dhabi National Oil Company (Adnoc), said the site is expected to yield some 1 billion cubic feet of gas per day once it reaches full production capacity in 2014.
Although the Shah Gas field was discovered more than 40 years ago, dangerously high levels of hydrogen sulfide have prevented Adnoc from extracting the gas, which is critical to domestic and industrial growth in the region, said a statement from Honeywell.
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BBK Successfully Closes USD Benchmark Bond Offering at $500 Million, in Collaboration with a Consortium of Regional and International Banks.
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