Abu Dhabi Marine signs $2.4bn contracts

Abu Dhabi Marine Operating Company (ADMA-OPCO) has signed two Engineering, Procurement ‘&’ Construction (EPC) contracts valued at around US$2.4b for the Satah Al-Razboot (SARB) Full Field Development Project with S. Korea’s Hyundai Engineering ‘&’ Construction Company (HDEC) and Petrofac International, Abu Dhabi. According to Emirates News Agency (WAM), the development project is part of the overall scheme of ADMA-OPCO to add 300,000 barrels a day (b/d) of additional production from its new offshore fields, with about 100,000 b/d coming from SARB oilfield to be developed through 7 packages. Among several other packages, the development has two major onshore and offshore EPC Packages: the onshore package number 4 has been awarded to HDEC for US$ 1.89 billion, while the offshore package number 3 has been awarded to Petrofac International for US$ 515.4 million, the agency reported.