UAE Signs $1.89 Bln EPC With Hyundai, $515 Mln With Petrofac

By MarEx 2013-04-02 14:37:00

Abu Dhabi Marine Operating Company (ADMA-OPCO) has signed a $1.89 billion engineering, procurement and construction (EPC) contract with Korea's Hyundai, and one for $515 million with Petrofac International, the UAE oil company said on Tuesday.

The two contracts are for the Satah Al-Razboot (SARB) Full Field Development Project to boost oil production in the United Arab Emirates.

Hyundai Engineering & Construction Company (HDEC) was awarded an onshore package, while Petrofac was awarded an offshore part of the project, ADMA-OPCO said in a statement.

(C) Reuters 2013.

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