French energy group Technip has stated that around $21 billion (£12.7 billion) worth of engineering, procurement and construction (EPC) contracts will be tendered in the UAE within the next nine months.

Speaking to Gulf News in Abu Dhabi, Arturo Grimaldi, senior vice-president for the Middle East for Technip, said the sustained investment was evidence of the resilience of the Middle Eastern oil and gas industry during the downturn.

"Around $40 billion worth of EPC contracts will be awarded in Qatar, Saudi Arabia and Kuwait in the coming three years," Mr Grimaldi added.

Such investment will also provide a welcome jobs boost in the region and corollary training and development programmes to enhance the skill sets of domestic workers looking to enter the industry.

Today's (October 21st) statement from Technip was preceded yesterday by comments from UAE's Zadco, which declared that it will be putting out $4 billion worth of EPC contracts over the next 18 months.

Getenergy event for GCC countries November 2009