UAE steps up gas drive with $1.4b Bechtel deal
BY HASEEB HAIDER
23 February 2005
23 February 2005
ABU DHABI — Abu Dhabi Company for Gas Industries (Gasco) yesterday concluded an agreement with US Company Bachtel to design, execute and operate the third phase of developing offshore Habshan Gas project costing $1.4 billion.
Others who bid for the contract included Paris-based Technip, Chiyoda Corporation JGC both from Japan.
The project would be completed in a maximum of 40 months time from conclusion of the contract, adding that production will commence in the first quarter of 2008.
The project targets the production of 125,000 barrels per day of crude oil and 12,000 tons of liquid natural gas and 3200 tons of Ethane gas.
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