05/30/2012 | Editor: Dominik Stephan
Abu Dhabi's National Petroleum Construction Company (NPCC) plans infrastructure investments of more than US $ 500 million over the next two or three years, chief executive officer Aqeel Abdullah announced. These investment shall prepare the company for the expected growth in Asia and South Africa.
“This covers upgrading our onshore marine fleet, increasing yards capacity, augmenting equipment facilities, and in addition, expanding our engineering capabilities,” Madhi said at a recent company event in the capital pertaining to health, safety and environment. “NPCC’s five-year business plan is being formulated. We have set ourselves an ambitious expansion plan in terms of volume, growth and geographical reach, scouting for opportunities in Southeast Asia, Caspian Sea and West Africa,” he added.
In 2012, NPCC targets a Dh 5 billion (US $ 1,36 billion) in revenue this year, up from Dh 4.2 billion (US $ 1,1 billion) in 2011. “Last year, NPCC spent two-thirds locally on purchases of materials and subcontracting services, thus actively contributing to the local economy,” Madhi nexplained. Now the company is also bidding for other projects, including a storage tank project in Oman.
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Currently, the oil and gas industry expects Abu Dhabi to award offshore oil and natural gas projects worth US $ 7 billion to US $8 billion over the next 12 months, the lion's share of which to be awarded by Zakum Development Company (Zadco ) and Abu Dhabi Marine Operating Company (Adma-Opco). “We are bidding for the US $ 1 billion EPC-1 project of Zadco which includes building platforms and pipelines. The project will be awarded soon. We will also be bidding for EPC-2, which will be awarded by the end of the year,” said Madhi. Regarding Adma-Opco’s projects, he said NPCC will be bidding for Lulu 1 and 2 and Sarb 1, 2 and 3, which comprise different packages for oil production.
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In India, the company plans to engage in the bidding for several projects of India’s state-owned Oil and Natural Gas Corporation (ONGC) over the next 10 years. Already in January, NPCC announced a Dh550 million EPC contract by ONGC. The major EPC contract was for the WO-16 cluster and SB-14 wellhead platforms project at the offshore Mumbai High field, NPCC said in a statement at the time.
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