You are hereHome SectorsUAE
Abu Dhabi awards US$817 million Zakum oil deal
Source: BI-ME with Bloomberg , Author: Posted by BI-ME staff
Posted: Thu July 12, 2012 11:15 am
china wholesale market

UAE. Zakum Development Co., which plans to raise output from Abu Dhabi’s Upper Zakum oil field, awarded a contract to Technip SA (TEC) and National Petroleum Construction Co. valued at about AED3 billion dirhams (US$817 million), The National newspaper reported, citing a spokesman for Paris-based Technip.

The consortium will start building offshore facilities for the project, which wants to boost production by 50% to 750,000 barrels a day, according to the newspaper with headquarters in Abu Dhabi, the capital and largest sheikhdom of the United Arab Emirates.

 

MIDDLE EAST BUSINESS COMMENT & ANALYSIS

date:Posted: August 30, 2015
INTERNATIONAL. Commodities have fallen to the lowest level in 16 years thereby wiping out all the gains that were made during the Chinese boom years during the first decade of this millennium.
date:Posted: August 30, 2015
UAE. Potentially, the ecosystem of Dubai South is expected to generate over a half million jobs and additionally, it hopes to house around a million residents, Research by ValuStrat revealed.
date:Posted: August 30, 2015
INTERNATIONAL. Lebanon's protest slogan, 'You Stink,' refers to much more than the piling up of garbage on the streets of Beirut and the lack of an efficient waste management system.
INTERNATIONAL. Every UK region is more affluent than five years ago; There has been a significant 41% rise in the number of millionaires in the UK overall since 2010; 715,000 millionaires now live in the UK, compared to 508,000 in 2010.
dhgate