Topaz subsidiary signs fabrication deal for a gas development in the UAE
Posted: 02 October 2006
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Topaz Energy and Marine Ltd. Said its Abu Dhabi-based oil and gas subsidiary, Adyard LLC has been awarded a major contract from Atlantis Holding Norway AS, a wholly-owned subsidiary of Chinese giant Sinochem Corporation.
The $5.5 million deal involves the fabrication, load out and transportation of the jacket and topsides for an off-shore platform, to be used by Atlantis for the development of the Um Al-Quwain gas field in the UAE.
 ´Atlantis is one of the major operators with over 20 years˙ experience in the oil and gas industry. The contract was awarded in July and site work is expected to commence immediately. This will further enhance Adyard˙s position in the Middle East oil and gas sector,ˇ said Jim Masterton, General Manager, Adyard.
Adyard, an oil and gas services company, specialising in heavy fabrication, onshore and offshore oil and gas projects, rig repairs and workshop services, will execute the work in their 80,000 square metre, water front facility, near Abu Dhabi.
Due for completion in early 2007, the fabrication contract is the second of its kind to be built in the newly renovated Adyard facility at Mussafah and consolidates Adyard˙s entry into the market for the fabrication of offshore platforms including jackets, piles and topsides.
The concession for the Umm Al-Quwain field is held in partnership between Atlantis and the Abu Dhabi government-owned Mubadalah Development Co. (MDC), under an agreement with the emirate signed in December 1999.
Combined with the Zora field, which is shared by the emirates of Sharjah and Ajman the offshore gas fields are currently under development and once in production will jointly generate150 million cubic feet (MCF) per day in the first phase and up to 300 MCF per day at a later stage.
Adyard is a wholly owned subsidiary of Topaz Energy and Marine Ltd., one of the leading oil & gas energy services companies in the UAE. |
