Published On: Tue, Nov 11th, 2014

Abu Dhabi’s economy in a booming stage with new projects unfolding in oil and gas

Abu Dhabi

Abu Dhabi

Abu Dhabi’s economy is in a booming stage with new projects unfolding in the oil and gas sector of the emirate, transforming the capital city into a major regional hub of economic and industrial activities with a strong future outlook.

“Abu Dhabi is going to be a big market when all the previous projects have ended, and six months from now there will be another boom of projects in oil and gas, some power plants are coming, there are couple of projects coming in Fujairah as well, some refineries, LNG plants etc.,” Muhammad Iqbal Khan, General Manager, DESCON, told WAM in an interview on the margins of the ADIPEC 2014.

He said that the company is strengthening its presence in Abu Dhabi which is a regional hub for robust economic activities and from here the intent is to go Oman, and Iraq. “At the moment, more focus is on Abu Dhabi, where our strength is more than five thousand.” He informed that the company recently completed rig construction project in Abu Dhabi, and targeting some more projects with various Abu Dhabi National Oil Company (ADNOC) group of companies.

“We are doing EPC – Engineering Procurement Construction projects, one is with Borouge and the other is with GASCO. The project with GASCO is already completed, and with Borouge it is around 20 percent done.” The value of the GASCO project, the Habshan Acid Gas Flare Recovery Project, was around US$50 million.

“In the Borouge EPC project, we are modifying some old plants of the company. And it is more like an environment friendly project worth US$100 million dollars concerning to flare recovery.” “We have another business, Hamriyah Manufacturing Works in Sharjah, specilised for static equipment manufacturing and from there we are supplying to South America, Saudi Arabia, Australia, Syria, Egypt, Iraq and Oman.

Source : WAM News Agency for United Arab Emirates

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