Al Jaber Energy Services (Ajes) yesterday said that it had won its second contract valued at Dh460 million from Petrofac Emirates for construction work on the Upper Zakum offshore oilfield.
The Al Jaber Group subsidiary will complete various marine logistics over the next 33 months for the north and south islands, which are part of the four artificial islands developed by Zadco.
The islands 84 kilometres off the coast of Abu Dhabi will hold drilling platforms, oil production facilities and supporting infrastructure to help increase production at the Upper Zakum field to 750,000 barrels per day (bpd) in 2015 from 550,000 bpd currently.
The contract is an extension of three other ongoing projects Ajes has on the islands including another from Petrofac Emirates, Zadco and a Technip- NPCC consortium.
“This project reflects the successful record of Ajes in the execution of giant projects with international construction standards,” said Obaid Khaleefa Al Jaber Al Marri, the chairman of Al Jaber Group.
The previous contract awarded by Petrofac had Ajes building temporary facilities for Petrofac staff on all four islands.
Petrofac said that temporary facilities construction continued on the south and central islands, with permanent work commencing on the north and south islands in June and July this year, respectively.
The London-based oil services firm has been affected by falling oil prices. Last month, Petrofac issued a warning, revising its expected net profit for next year to US$500m compared to previous analysts’ estimates of $675m.
The Petrofac chief executive Ayman Asfari said during the investor call last month that the firm would continue to focus on its activities in the Middle East.
On Friday Deutsche Bank lowered its price target on Petrofac to 800 pence from 1,050 pence as the company dropped the most on the FTSE 100 list.
“I am confident that Petrofac will meet the challenges presented by certain projects in our portfolio and the medium-term growth prospects for our business remain strong,” Mr Asfari said.
Petrofac shares rose 1.25 per cent to 686 pence in early afternoon trading in London.
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How to protect yourself when air quality drops
Install an air filter in your home.
Close your windows and turn on the AC.
Shower or bath after being outside.
Wear a face mask.
Stay indoors when conditions are particularly poor.
If driving, turn your engine off when stationary.
COMPANY PROFILE
Founders: Alhaan Ahmed, Alyina Ahmed and Maximo Tettamanzi
Total funding: Self funded
Squid Game season two
Director: Hwang Dong-hyuk
Stars: Lee Jung-jae, Wi Ha-joon and Lee Byung-hun
Rating: 4.5/5
Leaderboard
15 under: Paul Casey (ENG)
-14: Robert MacIntyre (SCO)
-13 Brandon Stone (SA)
-10 Laurie Canter (ENG) , Sergio Garcia (ESP)
-9 Kalle Samooja (FIN)
-8 Thomas Detry (BEL), Justin Harding (SA), Justin Rose (ENG)
Ruwais timeline
1971 Abu Dhabi National Oil Company established
1980 Ruwais Housing Complex built, located 10 kilometres away from industrial plants
1982 120,000 bpd capacity Ruwais refinery complex officially inaugurated by the founder of the UAE Sheikh Zayed
1984 Second phase of Ruwais Housing Complex built. Today the 7,000-unit complex houses some 24,000 people.
1985 The refinery is expanded with the commissioning of a 27,000 b/d hydro cracker complex
2009 Plans announced to build $1.2 billion fertilizer plant in Ruwais, producing urea
2010 Adnoc awards $10bn contracts for expansion of Ruwais refinery, to double capacity from 415,000 bpd
2014 Ruwais 261-outlet shopping mall opens
2014 Production starts at newly expanded Ruwais refinery, providing jet fuel and diesel and allowing the UAE to be self-sufficient for petrol supplies
2014 Etihad Rail begins transportation of sulphur from Shah and Habshan to Ruwais for export
2017 Aldar Academies to operate Adnoc’s schools including in Ruwais from September. Eight schools operate in total within the housing complex.
2018 Adnoc announces plans to invest $3.1 billion on upgrading its Ruwais refinery
2018 NMC Healthcare selected to manage operations of Ruwais Hospital
2018 Adnoc announces new downstream strategy at event in Abu Dhabi on May 13
Source: The National
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How to improve Arabic reading in early years
One 45-minute class per week in Standard Arabic is not sufficient
The goal should be for grade 1 and 2 students to become fluent readers
Subjects like technology, social studies, science can be taught in later grades
Grade 1 curricula should include oral instruction in Standard Arabic
First graders must regularly practice individual letters and combinations
Time should be slotted in class to read longer passages in early grades
Improve the appearance of textbooks
Revision of curriculum should be undertaken as per research findings
Conjugations of most common verb forms should be taught
Systematic learning of Standard Arabic grammar
COMPANY PROFILE
Initial investment: Undisclosed
Investment stage: Series A
Investors: Core42
Current number of staff: 47
A timeline of the Historical Dictionary of the Arabic Language
- 2018: Formal work begins
- November 2021: First 17 volumes launched
- November 2022: Additional 19 volumes released
- October 2023: Another 31 volumes released
- November 2024: All 127 volumes completed
