Tuesday 11 August 2020

Target Engineering wins $86m Adnoc project contract

ABU DHABI, July 10, 2019

Arabtec Holding, a leading contractor for social and economic infrastructure, said its unit, Target Engineering Construction Company, has been awarded a Dh315-million ($86 million) contract by Tecnicas Reunidas to carry out the construction works for Adnoc Onshore’s Bu-Hasa Integrated Field Development Project in Abu Dhabi.

This award extends Target’s scope of work from the previously announced Dh521 million in November last year to bring the total contract value to Dh836 million.

Target’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.

The main objective is to boost and sustain the Bu Hasa production plateau output to 650,000 barrels per day by October 2021, said the statement from Arabtec.

The contract works have already started on the project and is due for completion by August 2021.

Acting group CEO Peter Pollard said: "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. 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," he added.-TradeArabia News Service


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