Abu Dhabi National Oil Company awarded two engineering, procurement and construction contracts worth $1.46 billion to expand the output of the Dalma gas field, which is part of the world's largest offshore sour gas concession.
The UAE's National Petroleum Construction Company and a joint venture between Spain's Técnicas Reunidas and Target Engineering won the EPC contracts for the development of the Dalma field.
The first package awarded to NPCC is worth $514 million and covers the construction of four offshore wellhead towers, pipelines and infrastructure in Hair Dalma, Satah, and Bu Haseer fields.
The second package, worth $950m and awarded to the Técnicas Reunidas-Target Engineering JV, covers gas conditioning facilities on Arzanah island located 80 kilometres from Abu Dhabi.
"The award of the Dalma EPC contracts as well as ongoing artificial island construction and development drilling underscore the progress of the Ghasha mega-development," said Adnoc upstream executive director Yaser Almazrouei.
"As we continue to execute this strategic project, we are ensuring it delivers substantial in-country value to drive economic growth and support the objectives of the UAE’s Principles of the 50."
A cornerstone of the UAE's jubilee celebrations is the Projects of the 50 – a series of initiatives to boost economic growth and prepare for a rapidly changing future. In September, the UAE set out the Principles of the 50 to lay out the country's economic, political and developmental road map for the next five decades.
Around 70 per cent of the value of the project award will flow back into the UAE's economy, Adnoc said.
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Adipec 2021 - in pictures
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Following development work executed by the contractors, the Dalma field will have the capacity to produce around 340 million cubic feet per day of natural gas by 2025. The field is located around 190 kilometres northwest of the UAE capital.
“Adnoc and its partners remain guided by our strategic production capacity objectives and sustainability ambitions. Together, we are responsibly progressing the Ghasha mega-development to maximise value as well as support the gas self-sufficiency goal of the UAE," Mr Almazrouei, said.
Adnoc also awarded a contract to Technip Energies for design work on the Ghasha mega project.
Technip Energies will look to accelerate carbon capture on the site and optimise costs, Adnoc said.
The first ouput from the Ghasha concession is expected to begin in 2025 and will be ramped up to 1.5 billion cubic feet per day before the end of the decade. Adnoc has built three artificial islands to support production.
The Ghasha ultra-sour gas concession comprises the Hail, Ghasha, Dalma, Nasr, Sarb, Bu Haseer, Shuweihat and Mubarraz offshore sour gas fields in Abu Dhabi.
Adnoc maintains a majority stake in the concession, while Italy’s Eni, Germany’s Wintershall Dea, Austria’s OMV and Russia’s Lukoil hold the remaining shares.
Killing of Qassem Suleimani
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MATCH INFO
Day 2 at Mount Maunganui
England 353
Stokes 91, Denly 74, Southee 4-88
New Zealand 144-4
Williamson 51, S Curran 2-28
Joker: Folie a Deux
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Rating: 2/5
The specs
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Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
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MOUNTAINHEAD REVIEW
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Most sought after workplace benefits in the UAE
- Flexible work arrangements
- Pension support
- Mental well-being assistance
- Insurance coverage for optical, dental, alternative medicine, cancer screening
- Financial well-being incentives
Teaching your child to save
Pre-school (three - five years)
You can’t yet talk about investing or borrowing, but introduce a “classic” money bank and start putting gifts and allowances away. When the child wants a specific toy, have them save for it and help them track their progress.
Early childhood (six - eight years)
Replace the money bank with three jars labelled ‘saving’, ‘spending’ and ‘sharing’. Have the child divide their allowance into the three jars each week and explain their choices in splitting their pocket money. A guide could be 25 per cent saving, 50 per cent spending, 25 per cent for charity and gift-giving.
Middle childhood (nine - 11 years)
Open a bank savings account and help your child establish a budget and set a savings goal. Introduce the notion of ‘paying yourself first’ by putting away savings as soon as your allowance is paid.
Young teens (12 - 14 years)
Change your child’s allowance from weekly to monthly and help them pinpoint long-range goals such as a trip, so they can start longer-term saving and find new ways to increase their saving.
Teenage (15 - 18 years)
Discuss mutual expectations about university costs and identify what they can help fund and set goals. Don’t pay for everything, so they can experience the pride of contributing.
Young adulthood (19 - 22 years)
Discuss post-graduation plans and future life goals, quantify expenses such as first apartment, work wardrobe, holidays and help them continue to save towards these goals.
* JP Morgan Private Bank
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
500 People from Gaza enter France
115 Special programme for artists
25 Evacuation of injured and sick
Company profile
Name: Oulo.com
Founder: Kamal Nazha
Based: Dubai
Founded: 2020
Number of employees: 5
Sector: Technology
Funding: $450,000
