AREC Estimates Revenues at $10.6bn in 1985 

The OAPEC-sponsored Arab Engineering Company (AREC), which is headquartered in Abu Dhabi, estimates that its total revenue in 1985 will amount to about $10.6mn, a 39.5% increase over revenues of $7.6mn in 1984.

AREC was established in June 1980 with an authorized capital of $20mn and a subscribed capital of $12mn. Its shareholders include the national oil companies of Algeria, Iraq, Kuwait, Libya, Qatar, Saudi Arabia, Syria and the...