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ADNOC unit to award $2bn in EPC contracts this year
- United Arab Emirates: Sunday, March 17 - 2013 at 07:21
Abu Dhabi Marine Operating Co (Adma-Opco), unit of the Abu Dhabi National Oil Co (Adnoc), is expected to award up to $2bn (Dhs7.3bn) worth of engineering, procurement and construction (EPC) offshore contracts this year, Gulf News has reported, citing a person familiar with the developments. "The total value of contracts this year for mega-projects would range between half a billion US dollars to up to $2bn," the person told the daily on the sidelines of an oil industry conference in Dubai. Adma-Opco is pursuing one million barrels per day (bpd) production target and the majority of this will be completed by 2017, raising it from the current 600,000 bpd.
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