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FINANCIAL NEWS
Abu Dhabi oil firm awards $683m contract
17 Feb 2010
(MENAFN) Abu Dhabi Company for Onshore Oil Operations (Adco) said that it has awarded a $683.3 million engineering, procurement and construction (EPC) contract to Abu Dhabi-based National Petroleum Construction Company (NPCC) to increase the output of the Bab oilfield in the emirate, Gulf News reported.
Adco’s General Manager Abdul Munem Saif Al Kindi told reporters that the project, which will have an execution period of 30 months, will increase the capacity of Bab field by 80,000 barrels per day by 2013.
Al Kindi said eight qualified companies had bid for the Bab development contract. Besides the NPCC, bids were submitted by Technip and Petrofac, India’s Larsen & Toubro, South Korea’s GS Engineering and Construction, South Korea’s SK Engineering and Construction, Italy’s Saipem with Dubai-based Dodsal, and Spain’s Tecnicas Reunidas.
He added that the current oil production capacity of the Bab oilfield is 300,000 barrels per day (bpd).
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