Abu Dhabi: Abu Dhabi National Oil Company (Adnoc) announced on Wednesday the award of a dredging, land reclamation and marine construction contract to build multiple artificial islands in the first phase of development of the Ghasha Concession.
The contract awarded to the UAE’s National Marine Dredging Company (NMDC) is valued at Dh5 billion ($1.36 billion) and will achieve substantial In-Country Value of over 70 per cent, Adnoc said in a statement.
The Ghasha Concession consists of the Hail, Ghasha, Dalma, Nasr and Mubarraz offshore gas fields.
Under the terms of the contract, NMDC will construct 10 new artificial islands and two causeways, as well as expand an existing island, Al Ghaf.
The project is expected to take 38 months to complete and will provide the infrastructure required to further develop, drill and produce gas from the sour gas fields in the Ghasha Concession. At peak construction, the project is expected to employ over 3,500 people.
“This award accelerates the development of the Hail, Ghasha and Dalma sour gas offshore mega-project, which is an integral part of Adnoc’s 2030 smart growth strategy. As one of the world’s largest sour gas projects it will make a significant contribution to the UAE’s objective to become gas self-sufficient and transition to a potential net gas exporter,” said UAE Minister of State and Adnoc Group CEO, Dr Sultan Ahmad Al Jaber.
“NMDC was selected after a rigorous and competitive tender process. The award of this project to a UAE company will generate substantial In-Country Value, supporting local economic growth.”