Saturday, June 12, 2021

PROJECTS: UK-Italian consortium is the lowest bidder for Abu Dhabi EPCI contract

A consortium of Petrofac and Saipem has emerged as the lowest bidder for the engineering, procurement, construction and installation contract for Umm Shaif Gas Cap Condensate Development Phase 1 in Abu Dhabi, UAE, according to sources.

The project is being developed by a joint venture (JV) of ADNOC Offshore, which holds a majority stake of 60 percent, Total (20 percent), PetroChina (10 percent) and ENI (10 percent), according to media reports.

“The project is currently under bid evaluation with the contract award expected to be in the first quarter,” the first source told Zawya Projects. He said the project completion is scheduled for fourth quarter of 2024.

National Petroleum Construction Company and Technip consortium, and McDermott International are the second and third lowest bidders respectively, according to officials from two companies.

The commercial bid submission deadline was 24 August 2020, the first source said.

A second source said the estimated $1.5 billion project’s scope of work involves the development of a gas field with a production capacity of 500 million standard cubic feet per day.

In May 2019, McDermott International said it has bagged the front-end engineering and design services contract for the project from ADNOC. It said project scope also included the preparation and submission of an EPCI proposal.

(Reporting by Senthil Palanisamy; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2021

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