Petrofac Emirates has won a US$500 million contract to expand gas compression facilities at the Bab field in Abu Dhabi.
The company, a joint venture between the Sharjah-based Petrofac and the government-owned Mubadala Petroleum, will upgrade three existing compressor stations and install a fourth.
The project will add to the gas processing capacity at the Abu Dhabi Company for Onshore Oil Operations (Adco), the emirate's main oil concession.
Increased gas handling capacity at the Abu Dhabi National Oil Company (Adnoc)-led consortium comes as natural gas is gaining in importance to the national economy.
Abu Dhabi is scrambling to boost its gas supplies to enable the growth of a domestic industrial base, and keep up with rapidly growing consumption of power and water.
"The gap between supply and demand must be addressed," said Mohammad Sahoo Al Suwaidi, the director general at Adnoc's gas directorate, at the EIC Connect conference held in Abu Dhabi yesterday. For Petrofac, the contract is welcome news after it dampened expectations for profit growth this year as a consequence of the terrorist attack on the Salah gas project in Algeria.
The company said last month that it expected only "modest" profit growth this year.
The company remains optimistic about meeting its target of doubling revenues between 2010 and 2015, however. Even prior to the Adco contract, London-listed Petrofac boasted a record order backlog of US$12.1 billion, according to the company.
Much of this backlog lies in Abu Dhabi, where Petrofac has recently secured two lucrative contracts. The company is part of a $2.8bn project by an Adnoc subsidiary to increase offshore oil production at the Satah al Razboot (aka Sarb) field by 100,000 barrels per day (bpd), where plans include the creation of a falcon-shaped artificial island.
Last month, another Adnoc subsidiary awarded a $3.7bn package to develop the Upper Zakum megafield to Petrofac Emirates and Daewoo Shipbuilding & Marine Engineering. The contract is one of two packages that will boost production at the field by 250,000 bpd.
These deals are part of a raft of oil and gas contracts by Adnoc, as it is moving ahead with its efforts to increase the emirate's oil output from 2.8 million to 3.5 million bpd.
The national oil company's drive to ramp up production draws heavily on local companies. Alongside Mubadala and Petrofac, National Petroleum Construction Company is another government-controlled company that has won significant deals in Abu Dhabi's energy sector this year.
fneuhof@thenational.ae
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Company%20profile
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Company Profile
Name: Thndr
Started: 2019
Co-founders: Ahmad Hammouda and Seif Amr
Sector: FinTech
Headquarters: Egypt
UAE base: Hub71, Abu Dhabi
Current number of staff: More than 150
Funds raised: $22 million
The specs
Engine: 2.7-litre 4-cylinder Turbomax
Power: 310hp
Torque: 583Nm
Transmission: 8-speed automatic
Price: From Dh192,500
On sale: Now
The%20specs
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Blackpink World Tour [Born Pink] In Cinemas
Starring: Rose, Jisoo, Jennie, Lisa
Directors: Min Geun, Oh Yoon-Dong
Rating: 3/5
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COMPANY%20PROFILE
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Teachers' pay - what you need to know
Pay varies significantly depending on the school, its rating and the curriculum. Here's a rough guide as of January 2021:
- top end schools tend to pay Dh16,000-17,000 a month - plus a monthly housing allowance of up to Dh6,000. These tend to be British curriculum schools rated 'outstanding' or 'very good', followed by American schools
- average salary across curriculums and skill levels is about Dh10,000, recruiters say
- it is becoming more common for schools to provide accommodation, sometimes in an apartment block with other teachers, rather than hand teachers a cash housing allowance
- some strong performing schools have cut back on salaries since the pandemic began, sometimes offering Dh16,000 including the housing allowance, which reflects the slump in rental costs, and sheer demand for jobs
- maths and science teachers are most in demand and some schools will pay up to Dh3,000 more than other teachers in recognition of their technical skills
- at the other end of the market, teachers in some Indian schools, where fees are lower and competition among applicants is intense, can be paid as low as Dh3,000 per month
- in Indian schools, it has also become common for teachers to share residential accommodation, living in a block with colleagues
Dengue%20fever%20symptoms
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The%20specs
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The specs
Engine: 2.4-litre 4-cylinder
Transmission: CVT auto
Power: 181bhp
Torque: 244Nm
Price: Dh122,900
'Champions'
Director: Manuel Calvo
Stars: Yassir Al Saggaf and Fatima Al Banawi
Rating: 2/5
How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
Honeymoonish
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