Petrofac has been awarded a new $2.3 billion (£1.624 billion) contract to develop fields in Abu Dhabi.

The new agreement, signed with the Abu Dhabi Company for Onshore Oil Operations (ADCO), will run for 44 months and will cover engineering, procurement and construction (EPC) on the onshore Asab field.

Abdul Munim Al Kindy, ADCO general manager, said that the contract would help to secure the UAE capital's position as a major oil producer.

Meanwhile, Petrofac's group chief operating officer Maroun Semaan, commented: "This further reflects the commitments of major oil companies in the region to continue with strategic upstream projects."

The new contract builds on an earlier agreement signed with ADCO to develop sites in Abu Dhabi using skills and expertise forged in the North Sea.

Petrofac took on a consultancy position to significantly enhance outputs in the region through the effective use of skills and training in order to avoid major structural reinvestment.

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