Abu Dhabi Marine Operating Company (ADMA-OPCO) said on Tuesday it has signed two contracts valued at $2.4bn for the Satah Al-Razboot (SARB) Full Field Development Project with South Korea's Hyundai Engineering and Construction Company (HDEC) and Petrofac International.
SARB Full Field Development is part of a scheme by ADMA-OPCO to add 300,000 barrels a day of additional production from its new offshore fields, with about 100,000 bpd coming from SARB oilfield.
In a statement, ADMA-OPCO said that as part of the development plan, two artificial islands - SARB-1 and SARB-2 - are currently under construction by ADNOC Civil 120km off the northwest coast of Abu Dhabi.
Read more: http://www.arabianbusiness.com/-2-4bn-deals-signed-develop-uae-oil-field-496426.html
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