Technip lands Emirati rig contract

Jan. 28, 2014 at 6:54 AM

PARIS, Jan. 28 (UPI) -- French energy services contractor Technip announced Tuesday it secured a contract for a rig to be deployed at the Jalilah oil field off the Emirati coast.

The French company said it was awarded a "substantial contract" by Dubai Petroleum Establishment to design, build and install a platform for the development of the Jalilah B field in shallow waters about 50 miles off the coast of Dubai.

No reserve estimate was given for the field, which was discovered in 2010. The United Arab Emirates holds 97.8 billion barrels of oil. Dubai, one of six emirates, has approximately 4 billion barrels of oil reserves, the U.S. Energy Information Administration reports.

Vaseem Khan, senior vice president for Tecnhip's operations in the Middle East, said the contract is a sign of Emirati confidence in its ability to "safely and successfully execute complex projects in one of the most congested fields in the UAE."

Technip said the project should be completed in the second half of this year.

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