Middle East Economic Survey

VOL. LII

No 23

8-Jun-2009

UAE

First Gulf Bank Provides Performance Bond To Petrofac

Abu Dhabis First Gulf Bank (FGB) has provided a performance bond to Petrofacs Sharjah based Engineering and Construction Business for a $2.4bn contract from the Abu Dhabi Company for Onshore Operations (ADCO), which is part of Abu Dhabi National Oil Company (ADNOC). The contract is one of the largest ever awarded in the Middle East to an engineering, procurement, and construction (EPC)...