United Arab Emirates seen awarding $21 billion in energy contracts
ABU DHABI Ñ The United Arab Emirates was expected to award $21
billion worth of engineering and construction projects, many of which linked
to the energy sector.
A senior French executive told a conference in Abu Dhabi that the UAE
was preparing to launch tens of billions of dollars worth of projects by
early 2010.
Technip senior vice president Arturo Grimaldi said around $25
billion worth of engineering, procurement and construction, or EPC, projects
have
already been awarded in Saudi Arabia and the UAE over the last nine months, Middle East Newsline reported.
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"Around $40 billion worth of EPC contracts will be awarded in Qatar,
Saudi Arabia and Kuwait in the coming three years," Grimaldi said.
One of the UAE projects expected to begin was that by Abu Dhabi Zakum
Development Co.
A senior executive said the energy exploration firm, which
operates three UAE crude oil fields, would grant $4 billion in EPC contracts
by early 2011.
