Browse
related articles
Drake and Scull International gains on new oil and gas project in Iraq
- United Arab Emirates: Thursday, September 20 - 2012 at 14:19
The DFM General Index (DFMGI) slipped 0.70% to close at 1,650.04 points Thursday as a manufacturing survey in China indicated output in the indutry would shrink for the 11th month straight in September. Emaar Properties fell 1.40% to Dhs3.58. Shares of Dranke and Scull added 0.25% to hit Dhs0.842. Earlier in the day, the real estate maintenance specialist said that it has been awarded in collaboration with Sicim spa of Italy a AED 1.314 billion Engineering, Procurement and Construction (EPC) contract for pipeline installation at the Zubair Oil Field in southeastern Iraq. DSI's share of the overall contract value is 50 %. Khaldoun Tabari, CEO of DSI said "The Iraqi construction market offers massive potential in areas such as Oil & Gas where there is a huge demand for EPC contractors. (...) Our work on the Zubair Oil Field marks an important milestone for DSI and will optimize our exposure and market reach to the Oil & Gas domain." The DFM General Index (DFMGI) slipped 0.70% to close at 1,650.04 points Thursday as a manufacturing survey in China indicated output in the indutry would shrink for the 11th month straight in September. Emaar Properties fell 1.40% to Dhs3.58. Shares of Dranke and Scull added 0.25% to hit Dhs0.842. Earlier in the day, the real estate maintenance specialist said that it has been awarded in collaboration with Sicim spa of Italy a AED 1.314 billion Engineering, Procurement and Construction (EPC) contract for pipeline installation at the Zubair Oil Field in southeastern Iraq. DSI's share of the overall contract value is 50 %. Khaldoun Tabari, CEO of DSI said "The Iraqi construction market offers massive potential in areas such as Oil & Gas where there is a huge demand for EPC contractors. (...) Our work on the Zubair Oil Field marks an important milestone for DSI and will optimize our exposure and market reach to the Oil & Gas domain." Trading remained lively, as 190m shares were traded, valued at Dhs192.6m. Due to the strong advances the days before, the DMFGI improved its year-to-date gain to 18.60%, representing the highest advance within the GCC since January 1.
Related Content
Article Options
Gérard Al-Fil, Financial JournalistThursday, September 20 - 2012 at 14:19 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
