Target Engineering Construction Company is a subsidiary of Arabtec Holding
Target Engineering Construction Company has been awarded a new $86 million contract by Tecnicas Reunidas for construction works of ADNOC Onshore’s Bu-Hasa Integrated Field Development Project in Abu Dhabi.
The project aims to boost and sustain the Bu Hasa production plateau output to 650,000 barrels per day by October 2021.
The latest contract award extends Target’s overall contract value for the project from $142 million (in November 2018) to $228 million. The firm’s scope of work includes general construction and expansion of the existing Bu Hasa oil pad hubs, the gas lift Phase Two and the produced water re-injection Phases One and Two, according to a statement from Arabtec.
“We are pleased that Tecnicas Reunidas has awarded Target the extended works for the ADNOC Onshore project, which reflects our solid relationships across the markets in which we operate. We continue to strengthen our industrial infrastructure portfolio, supporting our strategic priority to diversify our backlog,” said Peter Pollard, acting group CEO of Arabtec.
Contract works are said to have begun already, the project is scheduled for completion by August 2021.
“More than 50 per cent of our current backlog is spread across social, economic and industrial infrastructure and we will continue to build on our competencies to onboard similar projects in our core geographies,” concluded Pollard.