Zadco to award $4b worth of contracts over 18 months

Abu Dhabi: Zakum Development Company (Zadco), the Abu Dhabi-based oil and natural gas exploration and production company, plans to award around $4 billion (Dh14.6 billion) worth engineering, procurement and construction (EPC) contracts over the next 18 months, a company source familiar with the developments told Gulf News yesterday.

"There are four major packages and there are three packages still to be tendered," the Zadco source, who requested anonymity, said

"The tendering will be next year and will be in phases," he added.

Zadco's mandate is to develop the Upper Zakum field on behalf of Abu Dhabi National Oil Company (Adnoc) and for the benefit of the shareholders in the joint venture, Adnoc, ExxonMobil, and Japan Oil Development Company Ltd.

Besides Upper Zakum, the company operates the Umm Al Dalkh and Satah fields.