ADNOC to Award $2 Billion of Contracts

UAE to award $2 bln onshore oil deals in 2009
Reuters UK - UK

ABU DHABI, April 23 (Reuters) - The onshore division of UAE state-run oil firm ADNOC plans to award around $2 billion of contracts to expand capacity before the end of the year, a top official said on Thursday.

Falling construction and raw material costs have cut almost 50 percent from the cost of energy projects, Abdul Munim al-Kindy, the general manager of onshore unit ADCO, told reporters. ...