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FINANCIAL NEWS
Oman to deliver five offshore oil platforms to UAE
20 Mar 2014
(MENAFN) Conveying the vision of diversifying the local economy, and offering opportunities to the citizens of Oman, Sohar-based L&T Modular Fabrication Yard (MFY) has strongly focused on developing In-Country Value (ICV), according to Times of Oman.
The objective supports the national goal of improving the local manufacturing sector as a basic element for future economic development, while delivering growth prospects for the same within Oman’s oil and gas sector.
The drive by L&T towards championing ICV is established by the cooperative delivery of five huge offshore oil platforms destined for the Umm Lulu and Nasr Oil fields in Abu Dhabi.
The five offshore platforms produced at the yard each weigh over 3000 metric tons and will commence their journey next week from water-front manufacturing complex, bound for the Umm Lulu and Nasr fields.
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