Target Engineering, a subsidiary of Arabtec Holdings, has announced that it has secured an additional US$86mn contract from Tecnicas Reunidas for the construction of ADNOC Onshore’s Bu-Hasa Integrated Field Development Project
This award extends Target’s scope of work from the previously announced US$141mn in November 2018 to bring the total contract value to US$227mn.
The objective is the general construction and expansion of the existing Bu Hasa oil pad hubs, the gas lift phase II and the produced water re-injection phase I and II.
The project aims to increase and sustain the Bu Hasa production plateau output to 650,000 bpd by October 2021. The contract works will begin for a duration of 28 months in June 2019.
Peter Pollard, the acting group CEO, commented, “We are pleased that Tecnicas Reunidas has awarded Target the extended works for the ADNOC Onshore project, which reflects our solid relationships across the markets in which we operate.”
“We continue to strengthen our industrial infrastructure portfolio, supporting our strategic priority to diversify our backlog. More than 50 per cent of our current backlog is spread across social, economic and industrial infrastructure and we will continue to build on our competencies to onboard similar projects in our core geographies," he added.
