Abu Dhabi firm keen on Adnoc oil projects

22 December 2011: National Petroleum Construction Co , an Abu Dhabi-based oil and gas services contractor, hopes the launch of a number of big projects in the UAE next year will boost revenue after a flat 2011. At least four to five mega projects will be launched by Abu Dhabi National Oil Co (Adnoc) with huge packages in billions of dollars and we see opportunities there. Despite winning significantly fewer projects this year, revenue will be flat due to a backlog of projects, Madhi said, adding profit could be hit by lower margins. We face aggressive competition from Koreans, Chinese and Indian companies who offer unrealistic prices.

Source: Ameinfo