The National Petroleum Construction Company, wholly owned by the National Marine Dredging Company, has entered into a contract worth AED 8.2 billion from Saudi Aramco for two packages of the Zulf offshore field project.
According to Arabiya Net, marine dredgers expected, in a statement to the Abu Dhabi market, today, Tuesday, that the work would be carried out over a period of 3 years.
In February 2021, the National Marine Dredging Company legally completed the process of consolidating its business with the National Petroleum Construction Company, after the shareholders voted on December 14, 2020 and obtained all required regulatory approvals.
This is after converting the mandatory financial instruments issued in favor of the shareholders of the National Petroleum Construction Company in exchange for the National Marine Dredging Company’s acquisition of the entire capital of the National Petroleum Construction Company to 575 million ordinary shares.
