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Petrofac Emirates Bags Two Contracts Worth $1.65 Bln

Petrofac Limited (PFC.L), a provider of services to the oil and gas production and processing industry, said Tuesday that Petrofac Emirates received two contracts, together worth about $1.65 billion, from Abu Dhabi National Oil Company or ADNOC in the United Arab Emirates.

The contract, which comprises engineering, procurement, construction, transportation, offshore installation and commissioning, is for ADNOC's Dalma Gas Development Project. The work scope includes offshore packages at Arzanah island and surrounding offshore fields, located about 140 km off the north-west coast of the Emirate of Abu Dhabi.

The first contract, worth $1.065 billion, is for gas processing facilities at Arzanah island, while the second contract, valued at $591 million, involves its joint venture with SapuraKencana HL Sdn. Bhd. Abu Dhabi.

The Dalma project is a key part of the Ghasha ultra-sour gas concession which is central to ADNOC's strategic objective of enabling gas self-sufficiency for the UAE.

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