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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

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

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INTERNATIONAL. Leadership commitment, resilience and collaboration critical to success; 40% of survey respondents cite the disruption of operations as the biggest consequence of a cyberattack, followed by the compromise of sensitive data (39%), harm to product quality (32%), and harm to human life (22%).
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