Sunday 2 May 2010

UAE's ADNOC awards $5.6 billion worth of contracts for Shah

Italy's Saipem (SPMI.MI) emerged as the biggest winner in a $5.6 billion round of contracts from Abu Dhabi National Oil Company (ADNOC) for the Shah gas field, days after ConocoPhillips' (COP.N) bailed out of the project.

Saipem was awarded three contracts, worth a total of around $3.1 billion, for a gas process plant, sulphur recovery and product pipelines.

South Korea's Samsung Engineering (028050.KS) won a $1.5 billion contract for the utilities and offsite package.

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