On Tuesday, the Abu Dhabi Natural Oil Company announced a deal with oilfield service provider Petrofac worth about $1.65 billion USD. The deal is now one of the biggest gas projects inside the Emirates.
Petrofac will provide engineering and construction on three major gas projects within the country – Hail, Ghasha, and Dalma and once done could produce more than 120,000 bpd.
The announcement raised shares of Petrofac up 1.5%. The move will also help bolster the UAE’s goal of gas self- efficiency.