$7.8bn worth of contracts were awarded in February
The UAE construction industry dominated contract award wins in February, followed by Egypt, Kuwait and Saudi Arabia. Around 47 contracts were awarded through the month, worth $7.8bn.
Dubai continues to be a hotspot for the construction industry, with awards in the tourism sector and along the Dubai Canal project.
West Nile Delta North Alexandria Concession
UK-based marine engineering company Subsea 7 signed an agreement worth more than $750m as part of the second phase of the project.
It was awarded the deal by UK oil and gas company BP, which operates the concession, and its German partner RWE DEA.
The West Nile Delta North Alexandria Concession development is Egypts biggest ever oil and gas project. The concession has proven reserves of 5 trillion cubic feet of gas and 55 million barrels of condensate.
The North Alexandria development is expected to produce up to 1 billion cubic feet a day of gas when fully operational. This is equal to about 25 per cent of the countrys current consumption.
Three contract awards on Master Gas System Expansion
Saudi KAD Construction was awarded three pipeline packages on Saudi Aramcos Master Gas System Expansion (MGSE) worth a total of about $1bn.
The Al-Khobar-based company was vying with several overseas firms for the engineering, procurement and construction (EPC) contracts after bids were submitted in May 2015.
The packages are part of the second phase of the MGSE, which is designed to increase Aramcos capacity to transport gas across the kingdom.
The three pipeline packages won by KAD Construction were:
- Package 1: Western Province pipeline
- Package 2: Central region pipeline
- Package 3: Eastern Province pipeline
According to one industry source, Aramco favoured Saudi KAD Construction as its proposal called for engineering and procurement activities to be carried out inside the kingdom.
The first phase will boost the MGSEs capacity to 9.6 billion cubic feet a day (cf/d) from 8.4 billion cf/d. The second phase will expand the capacity further to 12.5 billion cf/d.
Read previous contract awards.
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