Adnoc Gas plc has awarded engineering, procurement & construction (EPC) contracts worth USD 550 mln for the expansion of its natural gas pipeline network and has also transferred the ownership of the project to Adnoc.
The EPC contracts for the UAE sales gas pipeline network enhancement (ESTIDAMA) project were awarded to NMDC Energy P.J.S.C and Galfar Engineering & Contracting W.L.L Emirates, a statement said.
Approximately 70pct of the contracts’ value is expected to flow back into the UAE economy through Adnoc’s In-Country Value (ICV) program, supporting local economic growth and diversification.
Separately, ownership of ESTIDAMA, which comprises several packages with a total value of USD 2.4 bln, is being transferred from Adnoc Gas to the parent company, with Adnoc covering the capital expenditures.
