FINANCIAL NEWS

NPCC wins $62m contract in Qatar

05 Apr 2010

(MENAFN) The UAE’s National Petroleum Construction Company (NPCC) has secured a $62 million contract to upgrade pipelines at the offshore Idd al-Shargi North Dome oilfield in Qatar, Gulf Times reported.

Occidental Petroleum of Qatar awarded the contract to NPCC at the end of February. The contract is part of Phase III of upgrades to Occidental’s infrastructure at the field.

According to sources close to the project, the Abu Dhabi based firm beat bids from Jebel Ali based J Ray McDermott and the US’ Global Offshore.

The field is broken down into two reservoirs, Idd al Shargi North Dome and Idd al Shargi South Dome and lies some 80 kilometers off the east coast of Qatar.

Occidental signed a 25-year production sharing agreement to develop the estimated 4bn barrel field in 1994, when it was producing 20,000 barrels per day of oil.

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