$8.5bn worth of deals signed at ADIPEC
ADMA-OPCO signs contracts worth $3.5bn at showpiece event
An estimated $8.5bn worth of business was generated during November’s International Petroleum Exhibition and Conference (ADIPEC) breaking all its previous records.
Abu Dhabi Marine Operating Company (ADMA-OPCO) was one of the headliners from the event, signing four major deals worth $3.5bn at the exhibition.
The projects will help increase output from the organisation’s offshore Nasr field.
NPCC, Hyundai Heavy Industries and Technip were all awarded contract packages for work on the Nasr Full Filed Development Project, with a combined value of $3bn.
The first package of work will see EPC work carried out on seven wellheads, as well as more than 100km of pipelines being laid.
The second package – the largest by value at around $1.94bn – was awarded to HHI, while Technip will oversee the project management and consultancy aspect of the project.
NPCC will be responsible for onshore gas supply, with the contract valued at $494bn.
“These key projects come under the guidance of the Abu Dhabi government and with the support of the SPC and shareholders,” commented Ali Rashid Al-Jawan, ADMA-OPCO CEO.
We are proud of our strategic and long-standing partnership with NPCC, Hyundai and Technip, and hope the project will be completed as per the set schedule and quality standards.
Posting a 70% growth in generated business compared to last year's value of $5 billion, ADIPEC 2014 has also broken its previous records in international attendance and participation.
According to the preliminary figures, more than 70,000 visitors attended the 30th anniversary edition of ADIPEC this year, an increase of more than one-third compared to 2013.
ADIPEC 2014 also welcomed 1,868 exhibitors, 6,323 delegates, and in excess of 600 speakers, bringing the world's decision makers, industry leaders, and experts under one roof to address the most critical issues surrounding the ever-growing global energy demand.
H.E. Abdulla Nasser Al Suwaidi, Director General of ADNOC, said: “It is through such initiatives that we are able to bring the best and brightest minds to share the most sophisticated technologies, latest research, and expertise.
“This dissemination of knowledge plays a pivotal role in the development and progress of the energy sector. ADNOC is determined to continue supporting this success, and we look forward to more success at ADIPEC 2015.”