Petrofac secures contracts worth $1.65 billion from state-owned ADNOC - Reuters
Oilfield services provider Petrofac said on Tuesday it has secured two contracts worth about $1.65 billion from state-owned Abu Dhabi National Oil Company [ADNOC.UL] for one of the biggest gas projects in the United Arab Emirates (UAE).
The company's Emirati unit, Petrofac Emirates, will provide engineering and construction works for the Dalma gas development project, a part of the Ghasha ultra-sour gas concession, the company said reut.rs/2HEy4Oh, sending its shares 1.5% higher.
The move comes as the UAE, a key member of the Organization of the Petroleum Exporting Countries, looks to achieve gas self-sufficiency and become a net gas exporter.
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