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

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: February 6, 2016
INTERNATIONAL. PMI: The high cost of low performance shows need for stronger worldwide implementation of project, program and portfolio management.
date:Posted: February 6, 2016
UAE. S&P expects Abu Dhabi's government balance will worsen further based on the ratings agency's updated oil price assumptions; However, the emirate's large net asset position will continue to give it a considerable buffer to support the economy; Continued structural and institutional weaknesses anticipated.
date:Posted: February 5, 2016
INTERNATIONAL. "Saudi regional leadership amounts to exploitation of a window of opportunity rather than reliance on the assets and power needed to sustain it. That window of opportunity exists as long as the obvious regional powers - Iran, Turkey and Egypt - are in various degrees of disrepair."
UAE. S&P expects Abu Dhabi's government balance will worsen further based on the ratings agency's updated oil price assumptions; However, the emirate's large net asset position will continue to give it a considerable buffer to support the economy; Continued structural and institutional weaknesses anticipated.
dhgate
Monogram Ring