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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

date:Posted: May 4, 2016
INTERNATIONAL. The climate has rarely been so favourable to a resolution of the conflict. The chaos that is sweeping the Middle East has been a game-changer in relation to Israel and the Arab countries.
date:Posted: May 4, 2016
SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
date:Posted: May 3, 2016
INTERNATIONAL. Emerging and startup digital banking platform technologies key to success of digital initiatives; incumbent application vendors have been slow to respond to new requirements.
SAUDI ARABIA. The manager/directors of any company that is incorporated in Saudi Arabia should start to consider what changes may need to be made to the company's articles of association or bylaws.
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