Abu Dhabi-based oil and gas services contractor National Petroleum Construction Company and French group Technip have been jointly awarded a nearly AED 3 billion contract to build offshore facilities at an oil field in Abu Dhabi.

Two sources said that the contract is for the first phase of Zakum Development Company's expansion at its offshore oil field whose production will rise 100,000 barrels per day when completed. This is one of the big contracts NPCC and Technip have jointly won in Abu Dhabi this year. The two will be bidding for some more projects.

Zadco, which operates the Upper Zakum field that is ranked as the world's fourth largest by the company, produces 500,000 barrels per day and plans to lift that to 750,000 by 2015. The second phase of the project where bidding is under way will increase production by 150,000 barrels per day.

Zadco is a subsidiary of Abu Dhabi National Oil Company which holds a 60% stake. US Company ExxonMobil and Japan Oil Development Company Limited have 28% and 12% respectively.

Source - Arabian Business.com

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