Daewoo wins $796m Zadco deal in UAE
Seoul, May 27, 2013
Daewoo Shipbuilding & Marine Engineering said on Monday it had won an 897 billion won ($796 million) order to build oil production facilities in the Upper Zakum oil fields for the Zakum Development Company (Zadco), a subsidiary of Abu Dhabi National Oil Company.
The South Korean shipbuilder said in a statement that it had won the order in a consortium with Petrofac Emirates, with production facilities to be installed on artificial islands in the region.
The contract is expected to be completed by May 2017. - Reuters