Adnoc awards $245m deals to upgrade main oil lines

SourceTrade Arabia
SectorEconomy
CountryUnited Arab Emirates

Adnoc Onshore, a subsidiary of the Abu Dhabi National Oil Company (Adnoc), has awarded two Engineering, Procurement, and Construction (EPC) contracts to upgrade two main oil lines (MOLs) and crude receiving facilities at the Jebel Dhanna Terminal in Abu Dhabi. The EPC contracts have a combined value of around $245 million (AED899.9 million) and were awarded to China Petroleum Pipeline Engineering Company Limited – Abu Dhabi and Abu Dhabi-based Target Engineering Construction. Over 50 percent of the total award value will flow back into the UAE’s economy under Adnoc’s In-Country Value (ICV) program, underscoring Adnoc’s drive to prioritize ICV as it invests responsibly and pursues smart growth to maximize value from its assets and deliver sustainable returns to the UAE. Yaser Saeed Almazrouei, Executive Director of Adnoc’s Upstream Directorate, said: “The EPC contracts ...read more...