NPCC wins $744m contract for Abu Dhabi offshore project
ABU DHABI, 5 days ago UAE-headquartered National Petroleum Construction Company (NPCC) said it has won a $744-million engineering, procurement and construction (EPC) contract for the full field development of the Belbazem Offshore Block in Abu Dhabi. The contract was awarded by Al Yasat Petroleum Operations Company, a joint venture between Abu Dhabi National Oil Company (Adnoc) and China National Petroleum Corporation (CNPC) Located 120 km northwest of Abu Dhabi city, the Belbazem Block consists of three marginal offshore fields; Belbazem, Umm Al Salsal, and Umm Al Dholou. Adnoc and CNPC hold 60 per cent and 40 per cent stakes in Al Yasat respectively, underpinning the strong bilateral ties and energy partnership between the UAE and China.
ADNOC announced on Tuesday the award of a $744 million contract for the full field development of the Belbazem Offshore Block.
The Abu Dhabi National Oil Company (ADNOC) announced on Tuesday the award of a $744 million (AED2.73 billion) contract for the full field development of the Belbazem Offshore Block.
Al Yasat Petroleum Operations Company Ltd (Al Yasat) - ADNOC’s subsidiary and joint venture with China National Petroleum Corporation (CNPC) - awarded the engineering, procurement, and construction (EPC) contract to the National Petroleum Construction Company (NPCC). The scope of the award covers engineering, procurement, construction, and commissioning activities for the offshore facilities required to enable full production capacity of 45,000 barrels per day of light crude and 27 million standard cubic feet per day of associated gas from Belbazem, ADNOC outlined. First oil from the asset is expected in 2023.
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General Holding Corporation (Senaat), a part of Abu Dhabi’s holding company ADQ, submitted an offer to combine its wholly-owned subsidiary Emirates Steel with Arkan Building Materials Company to create an industrial group with assets of Dh13 billion ($3.54bn).
Under the terms of the proposed deal, Senaat would transfer Emirates Steel to Arkan for a convertible instrument that would automatically convert into approximately 5.1 billion ordinary Arkan shares upon completion of the deal, Senaat said in a statement on Sunday.
The conversion price of the instrument is set at Dh0.798 per share, which values Arkan at about Dh1.4bn. Upon completion, Senaat would own approximately 87.5 per cent of the entire issued share capital of the combined group.
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UAE Names First Arab Woman Astronaut
Apr 16, 2021
By Naadiya Adams
The first ever Arab woman astronaut has been selected to take part in the United Arab Emirates space programme.
Announced this weekend, Nora Al Matrooshi joins fellow selectee and Mohammed Al Mulla to become the second batch of astronauts from the UAE, they will form part of a four member team who will receive training with the National Aeronautics and Space Administration (NASA). The two new astronauts join astronauts Hazzaa AlMansoori and Sultan AlNeyadi under the UAE Astronaut Programme.
His Highness Sheikh Mohammed bin Rashid Al Maktoum said: “Today we announce two new Emirati astronauts, among them the first female Arab astronaut – Nora AlMatrooshi and Mohammed Al Mulla. They were selected from more than 4,000 applicants and their training will soon begin for international space flights. We congratulate the country on them. We congratulate them and count on them to raise the name of the UAE ever higher i