ADNOC L&S awarded $975mln EPC contract for construction of offshore artificial island

ADNOC L&S awarded $975mln EPC contract for construction of offshore artificial island

Award supports ADNOC L&S’ growth strategy to enter new business areas and unlock fresh revenue streams

At least 75% of the contract value will flow back into UAE economy through ADNOC’s In-Country Value Program

Abu Dhabi, UAE: ADNOC Logistics and Services plc (ADX symbol ADNOCLS / ISIN “AEE01268A239”), a global energy maritime logistics leader, announced today that it has been awarded a $975-million artificial island construction contract by ADNOC Offshore.

As part of ADNOC’s In-Country Value program, at least 75% of the total contract value for dredging, land reclamation and marine construction of an artificial island “G” for the Lower Zakum offshore field, will flow back into the UAE economy.

This award is a significant milestone in ADNOC Logistics & Services’ (ADNOC L&S) strategy to pursue new growth opportunities. ADNOC L&S’ Integrated Logistics business unit is an end-to-end, fully integrated energy logistics services provider. The provision of Engineering, Procurement and Construction (EPC) services in the integrated logistics business is a new offering by ADNOC L&S in line with its announced strategy to achieve significant ongoing growth, including expansion into new verticals. The EPC market is expected to experience substantial growth in the region in the coming years. The company aims to offer a broader