The UK oil services company Petrofac says it has won a contract in Malaysia worth US$280 million (Dh1.02bn).
Petrofac, which has extensive operations in the Emirates, was selected by Petronas Carigali for the development of the SEPAT offshore early production system on the east coast of Peninsular Malaysia. The first oil is expected to be produced before the end of next year.
With oil prices high, providers have been investing in new exploration and production.
In October, Petrofac won a $250m contract from the Sharjah Government to operate the Sajaa gas plant and associated assets in the emirate, including the gasfields that supply the facility, as part of a five-year services deal.
In addition, Petrofac Emirates, a joint venture between Petrofac and Mubadala Development, a strategic investment company owned by the Abu Dhabi Government, won a contract last year to build a gas plant at South Yoloten, Turkmenistan's biggest gasfield.
"We are delighted to have been awarded this contract by Petronas, which is our first lump-sum offshore [services] contract in South East Asia," said Maroun Semaan, the group chief operating officer of Petrofac.
"The award reinforces our commitment to the region and enables the continued growth of our local delivery capability to support our ongoing relationship with Petronas and other regional partners."
Petrofac will undertake the engineering, procurement, construction, installation and commissioning for the full scope of the early production system in a water depth of approximately 65 metres.
The work will comprise a mobile offshore production unit, a floating storage and offloading facility for the early production of about 20,000 barrels of oil per day, and all interconnecting subsea pipelines. These facilities mirror those of the Cendor phase I development, which was also undertaken by Petrofac on behalf of Petronas in record time under a production sharing contract, Petrofac said.
Other firms supporting Petrofac on this project are Kencana, which will add processing equipment, and Bumi Armada. The front-end engineering and design work for the project was carried out in Petrofac's offices in Woking, UK.
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The specs: 2018 Maxus T60
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Engine: 2.4-litre four-cylinder
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
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What is dialysis?
Dialysis is a way of cleaning your blood when your kidneys fail and can no longer do the job.
It gets rid of your body's wastes, extra salt and water, and helps to control your blood pressure. The main cause of kidney failure is diabetes and hypertension.
There are two kinds of dialysis — haemodialysis and peritoneal.
In haemodialysis, blood is pumped out of your body to an artificial kidney machine that filter your blood and returns it to your body by tubes.
In peritoneal dialysis, the inside lining of your own belly acts as a natural filter. Wastes are taken out by means of a cleansing fluid which is washed in and out of your belly in cycles.
It isn’t an option for everyone but if eligible, can be done at home by the patient or caregiver. This, as opposed to home haemodialysis, is covered by insurance in the UAE.
The specs: 2019 BMW X4
Price, base / as tested: Dh276,675 / Dh346,800
Engine: 3.0-litre turbocharged in-line six-cylinder
Transmission: Eight-speed automatic
Power: 354hp @ 5,500rpm
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AT4 Ultimate, as tested
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Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
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In numbers: PKK’s money network in Europe
Germany: PKK collectors typically bring in $18 million in cash a year – amount has trebled since 2010
Revolutionary tax: Investigators say about $2 million a year raised from ‘tax collection’ around Marseille
Extortion: Gunman convicted in 2023 of demanding $10,000 from Kurdish businessman in Stockholm
Drug trade: PKK income claimed by Turkish anti-drugs force in 2024 to be as high as $500 million a year
Denmark: PKK one of two terrorist groups along with Iranian separatists ASMLA to raise “two-digit million amounts”
Contributions: Hundreds of euros expected from typical Kurdish families and thousands from business owners
TV channel: Kurdish Roj TV accounts frozen and went bankrupt after Denmark fined it more than $1 million over PKK links in 2013
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
The National's picks
4.35pm: Tilal Al Khalediah
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6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
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