UAE marine company awards $766m contract
Abu Dhabi, June 20, 2013
State-owned Abu Dhabi Marine Operating Company (Adma-Opco) has awarded a 2.8 billion dirhams ($766 million) contract to a local firm to develop an offshore field as its expands production of crude oil.
The engineering, procurement and construction (EPC) contract to develop the Umm Lulu field has been awarded to Abu Dhabi-based National Petroleum Construction Company (NPCC), Adma-Opco said in a statement on Thursday.
The Umm Lulu field development is part of Adma-Opco's plans to add around 300,000 barrels per day (bpd) of oil output from three fields to lift production to about 1 million bpd of oil by 2020.
Currently, Adma-Opco's production is 600,000 bpd of oil.
"Offshore developments are playing a key role in Abu Dhabi's efforts to increase its crude production capacity to . million bpd from today's estimated .7 million bpd," the statement said.
Adma-Opco, a producer of offshore oil and gas, is a subsidiary of Abu Dhabi National Oil Company.-Reuters
More Construction & Real Estate Stories
- Bahrain awards $5.8m project tenders
- Spinneys to set up distribution centre at Kizad
- Dubai unveils $300m hitech 'green' city project
- Deyaar plans $245m Dubai complex
- IFA unveils $272m Dubai mixed-use project
- CBRE tops Fortune’s most admired firms list
- Kuwait's real estate sales hit $1.1bn in Jan
- Dubai RTA awards $27m roads contract
- Work to start on Bahrain beach project
- Damac launches luxury apartments at Expo site
- Kuwaitis top GCC property buyers in Oman
- Rubber World to showcase at Big 5 Saudi
- Tool to help create effective property listings
- 'Smart' move by Dubai Design District
- Drake unit wins $13m contract in India
- Solar-powered cleaning boats launched in Sharjah
- $27m Expo Hotel Sharjah deal signed
- Arabtec unit wins $282m Emaar contract
- Abu Dhabi to host pool & spa expo
- ADCM unit secures $213m bridging loan
- Cluttons Dubai launches new luxury apartments
- Dubai developer Damac profits triple to $641m
- Dubai to start work on $544m water canal
- Dubai property market can absorb 25,000 units
- Jones Lang LaSalle renamed 'JLL'
- Aldar raises synergy estimate from Sorouh merger
- UAE industrial property sector keeps up growth
- Dubai residential property prices up 26pc
- Majid Al Futtaim to build new mall in Dubai IMPZ
- 300 firms to take part in Dubai property forum