The UAE has spent AED 22 billion ($6 billion) during the first eight months of 2014 on oil and gas projects, particularly those related to raw production.
According to MEED, ADMA-OPCO has spent $2.7 billion on contracts to develop and upgrade Al Nasr oilfield, while Abu Dhabi Company for Onshore Oil Operations (ADCO) has spent nearly $1.44 billion on expansion projects for two oilfields.
Gulf Cooperation Council (GCC) states have spent a total of $29 billion on oil and gas contracts since the start of 2014, MEED added.
According to MEED, ADMA-OPCO has spent $2.7 billion on contracts to develop and upgrade Al Nasr oilfield, while Abu Dhabi Company for Onshore Oil Operations (ADCO) has spent nearly $1.44 billion on expansion projects for two oilfields.
Gulf Cooperation Council (GCC) states have spent a total of $29 billion on oil and gas contracts since the start of 2014, MEED added.
Source:
Mubasher
