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Reduced earnings predicted by Al Hassan Engineering

Oman's Al Hassan Engineering has said 'several significant changes/issues' in a major EPC contract for Petroleum Development Oman (PDO) could lead to lower earnings this year, Times of Oman has reported. PDO had taken "a realistic view and included Claims/Variations income of OR1.3m for the contract, from inception up to Dec 2011," Al Hassan said. "The company has now received a notification from PDO that its claims committee has decided that the variation claims, under discussion earlier were now not acceptable," the firm said.