Sharjah UAE rig

UAE’s ADNOC signs $1 billion in FEED contracts

UAE

ABU DHABI, August 24, 2021 – The Abu Dhabi National Oil Company has signed USD 1 billion worth of contracts for FEED works, the company said on Monday.

 

Agreements were signed with John Wood Group, Fluor Corporation, McDermott International, Mott MacDonald, SNC-Lavalin Group, Technip Energies, WorleyParsons and a joint venture between Técnicas Reunidas and the UAE’s National Petroleum Construction Company.

Agreement terms are between 2021 and 2026 with possibilities to extend the contracts for two years.

The UAE’s current production capacity is 4 million bopd. The country intends to up its capacity by 1 million bopd

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