UK-based Petrofac announced on Tuesday that its joint venture company with Mubadala Petroleum, Petrofac Emirates, has received a contract worth $3.7bn from Zakum Development Company (ZADCO), for the development of Upper Zakum, UZ750 field in Abu Dhabi, UAE.
Petrofac Emirates, whose share is valued at $2.9bn, has secured the contract in consortium with Daewoo Shipbuilding & Marine Engineering (DSME).
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As part of the deal, the consortium will provide engineering, procurement, construction transportation and commissioning of island surface facilities (EPC-2) on four artificial islands.
The consortium will provide wellhead control, manifolds, crude oil process facilities, water injection and gas lift, oil export pumps, power generation, and associated utilities.
Petrofac Onshore Engineering & Construction (OEC) business managing director Subramanian Sarma said the company will show its commitment to support the oil and gas industry in Abu Dhabi.
"We look forward to developing our relationship with ZADCO through the successful delivery of this strategically important project," Sarma added.
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By GlobalDataThe completed facilitates are expected to commence operations in 2016.
ZADCO is a subsidiary of Abu Dhabi National Oil Company, where ExxonMobil and Japan Oil Development Company are shareholders.
In February 2012, Petrofac won a $329m engineering, procurement and construction (EPC) contract from Gazprom Neft, for the first phase of the Badra oilfield development project in the Wasit province of eastern Iraq.
The EPC contract, approved by Iraq’s Council of Ministers, included detailed design, engineering, procurement, construction, launch, testing and commissioning work of the Badra development’s central processing facility.
Image: A consortium of Petrofac Emirates and Daewoo Shipbuilding & Marine Engineering has secured a $3.7bn contract from Zakum Development Company. Photo: Courtesy of Eric Kounce.
