Petrofac awarded $40m contract by Sharjah National Oil Corporation – The National

Petrofac awarded $40m contract by Sharjah National Oil Corporation – The National

Petrofac awarded $40m contract by Sharjah National Oil Corporation. Contract follows award of two major deals by Adnoc earlier this week worth $1.65 billion. The engineering, procurement, construction and commissioning contract was awarded to Petrofac's Engineering & Production Services division (EPS), according to a statement from the company on Thursday.. The company, which trades on the London Stock Exchange, also won two major contracts from Abu Dhabi National Oil Company earlier this week to construct offshore facilities for the Dalma gas development project.. Sharjah is aiming to increase its gas production and last month announced the discovery of a new well of natural gas and condensate onshore in the emirate, its first in more than three decades.. Sharjah National Oil Corporation and Italy's oil company Eni discovered the "Mahani" exploration well within the first year of their partnership, the companies said last month.. Net profit attributable to shareholders for the six-month period ending June 30 reached $139m, compared to a loss of $17m for the same period last year.. Revenue increased 1 per cent in the first half to $2.82bn from the same period a year earlier.. Revenue is expected to decrease in 2020 due to a low order intake