Gasco awards $1.2bn gas contracts

30/12/2010 00:00 AST

A subsidiary of Abu Dhabi National Oil Co (Adnoc) awarded two contracts worth 4.44 billion dirhams ($1.21 billion) to the Italian unit of French oilfield firm Technip and Dodsal India, an Arabic daily said on Thursday.

Abu Dhabi Gas Industries (Gasco) awarded the two contracts for the building of gas treatment facilities and purified sulphur for export in the Western region of the emirate, Arabic newspaper Al-Bayan said.

Gasco liquefies gas at Das Island for export gas LNG. Most of the gas it chills goes to Tokyo.

The first contract worth $624 million to will be to build a local treatment facility and gas export terminal at Ruwais.

The second contract of $500 million to Dodsal India, part of Dubai-based Dodsal Group, will create a gas processing and sulphur refining facility in Habshan, the paper said.

Another $84 million contract was awarded to the Arabian Pipes Company for the supply 420 km of pipeline, according to a company statement.

The UAE, the world's third-largest oil exporter, is spending tens of billions of dollars to boost gas capacity to meet rapidly rising domestic demand.

The country sits on the world's fifth-largest gas reserves but has been slow to develop them and relies on imports of 2 billion cubic feet per day (cfd) from Qatar to meet the shortfall between domestic supply and demand.


Reuters

Most Viewed Companies

Ticker Price Volume
SABIC 114.77 5,915,941
SAMBA 26.98 1,138,683

Recent News

Saudi Public Investment Fund signs agreement with Six Flags to create amusement park in Riyadh

05/04/2018

Saudi Arabia's Public Investment Fund (PIF) has signed an agreement with Six Flags to develop and design an amusement park in Riyadh. Six Flags, the world’s leading international amusement park compa

Arab News

Green energy drive will boost KSA employment: Saudi Arabia’s renewable energy chief

05/04/2018

In an exclusive interview with Arab News, Turki Mohammed Al-Shehri explains how an expanding renewables industry will boost employment as well as pave the way for a greener future.

A massiv

Arab News

Dubai house prices, rents drop in first quarter of 2018

05/04/2018

Dubai’s residential property market continued to soften in the first three months of this year, in line with analysts’ forecasts, with rental values recording a more pronounced fall than sales prices

The National

Saudi Arabia lifts GCC index buoyed by strong oil prices

05/04/2018

Buoyed by a strong oil price of $70 per barrel, Saudi Arabia’s Tadawul shot up by over 6 per cent in March 2018, according to Kuwait Financial Centre’s (Markaz’s) recently released Monthly Markets Re

Times of Oman

Banks’ real estate credit at QR147.7bn

05/04/2018

Qatar banks’ combined credit facilities to real estate sector rose by QR17bn to QR147.7bn in 2017. The banks’ credit to various sectors stood at QR911bn at the end of 2017, up from QR839bn recorded i

The Peninsula

logo

Financial Information Co.

P.O. Box 69410, Riyadh 11547, Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2024, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap