Abu Dhabi-based National Petroleum Construction Company (NPCC) has been awarded two contracts worth a total of $673 million by oil producer Saudi Aramco.
Abu Dhabi Securities Exchange-listed National Marine Dredging Company, which wholly owns NPCC, said in a bourse filing that the first contract relates to Aramco’s Jafurah Development Program project and is worth $460.2 million.
The second contract, valued at $213 million, related to drilling jackets project.
Aramco is developing the Jafurah, the largest non-associated gas field in Saudi Arabia with a capital expenditure expected to reach $68 billion over the first 10 years of development.
NMDC shares were trading nearly 3 percent higher at 27.80 dirhams shortly before noon on Thursday.