Abu Dhabi National Oil Company (ADNOC) has awarded compatriot marine projects firm the NMDC Group a contract for the construction of an artificial island near the Al Nouf oilfield west of Abu Dhabi.
The total value of the contract is approximately US$136.7 million, NMDC confirmed in a filing with the Abu Dhabi Securities Exchange dated January 12.
ADNOC had earlier awarded sister company ADNOC Logistics and Services a US$975 million contract to construct an artificial island near the Lower Zakum field. The construction projects are in line with ADNOC's objective of increasing its oil production to five million barrels per day by 2030.
