ADNOC Cancels Two Gas Development Contracts

Abu Dhabi National Oil Co. (ADNOC) has canceled two contracts worth US$1.65 billion for the Dalma Gas Development Project. The contracts, issued to Petrofac Emirates, called for the construction of offshore facilities about 118 miles (190 km) northwest of Abu Dhabi, United Arab Emirates.

ADNOC issued the contracts in February, with the work expected for completion in 2022. Petrofac Emirates’ portion of its work on the project is valued at US$1.5 billion. If realized, the Dalma Gas Development Project would produce about 340 MMcfd (9.6 X 106 m3/d) of natural gas.

Petrofac plans to work with ADNOC over the coming weeks to find alternative options to handle the project. Additionally, Petrofac will also continue addressing its backlog of US$7 billion worth of projects, as well as seek more contracts in Abu Dhabi.

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