OPEC/UAE

A significant contract award puts Abu Dhabi on target to expand oil production capacity, undeterred by market forces. Though the oil-rich emirate has yet to finalize the structure of the renewed Adco onshore oil concession, state oil firm Adnoc isn’t waiting for new international partners before it takes action.

Adco this week awarded a $2.25bn engineering, procurement and construction (EPC) contract to Italian engineering firm Maire Tecnimont for work to be conducted at the...