(Finance) – Tecnimont subsidiary of Maire Tecnimont received one award letter from ADNOC for the preliminary engineering and procurement works (“Pre-Construction Services Agreement-PCSA”) relating to the onshore structures of the Hail & Ghasha project, as a member of a joint venture composed of Tecnimont, Technip Energies and Samsung Engineering.
The total value of preliminary engineering and procurement work on onshore facilities is approximately $80 million for the joint venture. The scope of work of the PCSA also includes the preparation of an Open Book Estimate for the execution of the entire project, which will be considered as part of the client’s final investment decision.
This award comes as ADNOC is accelerating its gas business expansion as part of its low-carbon growth strategy to continue to responsibly meet global energy needs. ADNOC is committed to exploiting the UAE’s abundant natural gas reserves to ensure the country’s energy independence in gas, industrial growth and diversification, as well as to meet the growing global demand for gas.
“We are honored to continue supporting ADNOC in accelerating its gas growth plans. Maire Tecnimont has been involved in the country’s natural resource processing industry since the late 1990s, with the first polyolefin complex (Borouge 1) completed in 2001. This contract – – commented Alessandro Bernini, Chief Executive Officer of the Maire Tecnimont Group – confirms Maire Tecnimont’s commitment to creating value in the United Arab Emirates thanks to its high technological capabilities and its distinctive skills”.