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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.

Abu Dhabi National Oil Company Signs Deal with Petrofac Worth Billions

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.

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