Petrofac, a leading global provider of oilfield services based in UK, said Abu Dhabi National Oil Company has terminated the $1.65-billion worth of contracts it had awarded to its Emirati unit for the Dalma gas development project in the emitrate.

 

The Dalma Gas Development Project, which was awarded in February, comprised two packages. Petrofac Emirates’ portion of the scope of work is valued at $1.5billion.

 

Meanwhile, Petrofac said it was committed to working with Adnoc over the coming weeks to explore alternative options to deliver this project in a way that supports their strategic objectives within the current challenging environment.

 

Petrofac continues to progress execution of its remaining group backlog of around $7 billion as planned and is still progressing with tendering for major contracts in Abu Dhabi. 

 

However, it anticipates this development may have an impact on the timing of their awards.-TradeArabia News Service