Arabtec Holding subsidiary Target Engineering has won a $141.8 million construction contract for the Abu Dhabi National Oil Company’s (ADNOC) development project for the Bu Hasa oil field, Arabian Business reported.
Target Engineering has been awarded the contract by Tecnicas Reunidas to perform the mechanical and electrical construction works for the oil field.
The project will increase the field’s production level to reach 650,000 barrels per day (b/d) by 2020.
The work will begin in May 2019 and last for a duration of 30 months.
“We are delighted to be appointed by Tecnicas Reunidas to carry out the mechanical and electrical construction works for ADNOC Onshore,” Arabtec Holding CEO Hamish Tyrwhitt said.
“This is another oil and gas project which demonstrates Target’s strength in the industrial sector as we continue to build on our core competencies in our core markets,” he added.