ADNOC to Reach Out to Contractors to Reduce Costs Amid Global Oil Market Crisis, an Industrial Info Market Brief

As Abu Dhabi National Oil Company (ADNOC) aims to reduce spending amid the low oil price environment, it has approached leading contractors and service players in the emirate, seeking discounts of up to 30% cost on oil and gas projects that have already been awarded. The major projects like Hail & Ghasha, Dalma, Upper Zakum, Bu Hasa, Bu Haseer and many other projects are likely to be a part of this cost optimization process. Click here for a list of projects.