Friday, 25 September 2009

China awarded first Abu Dhabi oil rig deal

A Chinese state oil firm has for the first time won an oilfield services contract in Abu Dhabi, in a sign of deepening commercial ties between the world’s second-biggest energy consumer and Gulf oil exporters.

National Drilling Company, the drilling unit of the Abu Dhabi National Oil Company (ADNOC), said on Thursday it had awarded an Dh800 million (US$218m) contract to -Baoji Oilfield Machinery, a subsidiary of the China National Petroleum Corporation (CNPC), to supply oil rigs for onshore drilling.

The deal closely follows last month’s visit to China by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to foster strategic co-operation with Beijing.

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1 comment:

  1. china-investFriday, October 02, 2009 6:01:00 pm

    China is a major force, and it's economy has been developed greatly over the past years due to massive exports.

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