LONDON: British oil and gas group Petrofac yesterday said that its Petrofac Emirates joint venture firm has won a vast $3.7bn contract to develop a key field in Abu Dhabi.
“Petrofac is pleased to announce that Petrofac Emirates, its joint venture with Mubadala Petroleum, has been awarded a contract by Zakum Development Company for the Upper Zakum, UZ750 field development in Abu Dhabi,” said a statement from the London-listed firm.
“The contract is worth approximately $3.7bn and has been secured by Petrofac Emirates in consortium with Daewoo Shipbuilding & Marine Engineering Co Ltd.”
The group added that Petrofac Emirates’ share of the contract was valued at $2.9bn. AFP
