ADNOC Awards $1.3 Billion Contract for Artificial Islands
Abu Dhabi National Oil Company (ADNOC) has announced the award of a dredging, land reclamation and marine construction contract in order to create several artificial islands in the UAE.
This marks the first phase of development of the so called ‘Ghasha Concession’.
The contract has been awarded to UAE’s National Marine Dredging Company (NMDC) and the deal is valued at AED5 billion (US$1.36 billion).
NMDC is now to construct 10 new artificial islands and two causeways, as well as expand an existing island, Al Ghaf.
In total, the project is slated to take around 3 years.
Dr. Sultan Ahmad Al Jaber, Minister of State and ADNOC Group CEO, said: "This award accelerates the development of the Hail, Ghasha and Dalma sour gas offshore mega-project, which is an integral part of ADNOC’s 2030 smart growth strategy.
“As one of the world’s largest sour gas projects it will make a significant contribution to the UAE’s objective to become gas self-sufficient and transition to a potential net gas exporter.”