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ADNOC Terminates Petrofac’s Dalma Gas Project

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Oil services company Petrofac has announced that its Petrofac Emirates joint venture has received a notice of termination from the Abu Dhabi National Oil Company (ADNOC) for two recently awarded contracts for the Dalma Gas Development Project.

Petrofac says that it is committed to working with ADNOC over the coming weeks to explore alternative options to deliver the project in a manner that supports the strategic objectives of both entities in the current challenging environment. The project, worth around US$1.65billion, is comprised of two parts and was awarded in February 2020. Petrofac Emirates’ share of the total project cost is valued at US$1.5billion.

Petrofac continues to record substantial progress in the execution of its remaining work backlog of around US$7billion as planned and will continue to bid for major contracts in Abu Dhabi.

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