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ADCO awards $1.44bn deal for Rumaitha-Shanayel expansion

: Wednesday, May 21 - 2014 @ 00:48

Abu Dhabi Company for Onshore Oil Operations (ADCO) has awarded a consortium led by South Korea’s GS Engineering and Construction $1.44bn contract to build a crude oil processing plant in the UAE, KBS has reported. The deal includes the third phase of the Rumaitha-Shanayel oil field expansion project. The first and second phases of the project have been completed with production standing at 46,000 barrels per day (bpd). Once the third phase is completed, daily output will rise to 85,000 bpd.

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Wednesday, May 21- 2014 @ 0:48 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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