Gulf Base reported that Abu Dhabi Gas Industries has awarded AED 1.5 billion gas development contract to France's Technip.

The firm said in a statement that the contract is for engineering, procurement and commissioning work on Gasco's 'Asab 3' project which will be completed in the Q3 of 2012.

Gasco has already awarded about USD 9 billion for major gas projects in the Gulf emirate. Gasco is 68% owned by the Abu Dhabi National Oil Company with the rest held by Royal Dutch Shell Total and Partex.

The 'Asab 3' project is being developed to process an additional 150 million cubic feet per day of associated gas from the existing Asab, Shah and Sahil oil fields.

Gasco said in a statement that the Asab 3 project will facilitate increased oil production from new ADCO facilities which are presently under development. ADCO is the Abu Dhabi Company for Onshore Oil Operations. It said that last year it was investing USD 25 billion in gas processing plants and pipelines to meet surging gas demand.

(Sourced from Gulfbase.com)