Multi-billion dollar contracts awarded by the Abu Dhabi National Oil Company (ADNOC) to Italian engineering group MAIRE and energy services group Saipem for a pioneering gas project are "an historic achievement", the foreign ministry said in a statement on Friday.
"For our companies, the award represents a historic achievement, not only for the unprecedented value of the contracts, but also for the recognition of Italian technology's merit in a strategic sector for the region," said the statement.
ADNOC awarded MAIRE a 8.7 billion dollar and Saipem a 4.1 billion dollar procurement and construction (EPC) contract for the Hail and Ghasha Offshore Development project.
"This is the largest natural gas contract ever awarded by ADNOC and the largest deal awarded to Maire Tecnimont in the group's history," the statement said.
MAIRE's contract is to deliver onshore services including gas processing units, sulphur recovery and export pipelines. Saipem has scooped a joint venture with the National Petroleum Construction Company (NPCC) for offshore drilling and processing facilities including on artificial islands and over 300 kilometres of subsea pipelines, according to the statement.
The Hail and Ghasah project will produce 1.5 billion standard cubic feet per day of gas before the end of the decade and aims to be the first in the world to operate with net zero carbon emissions, according to ADNOC.
The project is key for the UAE's strategic objective of diversifying its energy mix.
ADNOC holds a majority stake in the Hail and Ghasha field in which Italy's energy major Eni hold a 25 percent stake, the statement said.
