Speedy wins $50m Upper Zakum contract

22 July 2012

Adnoc awards deal to UK equipment rentals group on offshore UAE oil development

UK-based Speedy has won a contract from Esnaad, a subsidiary of Abu Dhabi National Oil Company (Adnoc), to provide equipment rental services on the offshore Upper Zakum oil field development.

The five-year deal, worth over $50m, covers the provision of logistics, asset management and equipment rental to support drilling and processing activities on the development’s four artificial islands. Speedy said that phased mobilisation of equipment will “begin shortly”.

The $15bn Upper Zakum project, located 80 kilometres off the coast of Abu Dhabi, is being undertaken by Adnoc offshore arm Zakum Development Company (Zadco).

Zadco is expected to award the $4bn engineering, procurement and construction (EPC) contract for crude production and processing facilities on the artificial islands by the end of 2012.

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