Target Engineering wins $142mn deal in ADNOC project
The contract was given by Tecnicas Reunidas for mechanical and electrical works
Target Engineering, a subsidiary of Arabtec Holding announced this week that it has been awarded a construction contract as part of ADNOC Onshore’s Bu Hasa Integrated Field Development Project.
The contract worth $141.87 million was awarded by Tecnicas Reunidas, which included mechanical and electrical construction works.
According to a report by news agency WAM, Arabtec said in a statement to Dubai Financial Market: “Target’s scope is the construction and expansion of the existing Bu Hasa oil pad hubs, the gas lift phase II and the produced water re-injection phase I and II.”
BY 2020, the project will be able to increase and sustain the Bu Hasa production plateau output to 650,000 barrels per day, the company also mentioned in the statement.
Hamish Tyrwhitt, group CEO at Arabtec said: “We are delighted to be appointed by Tecnicas Reunidas to carry out the mechanical and electrical construction works for ADNOC Onshore.”
He continued: “This is another oil and gas project which demonstrates Target’s strength in the industrial sector as we continue to build on our core competencies in our core markets.”
The firm also mentioned that work will begin from May 2019 as per the 30-month-long contract.
