Adnoc Onshore has awarded Chinese contractor Jereh Group an engineering, procurement, and construction contract worth AED 1.44 billion ($392.1 million) for the Bu Hasa oilfield cluster. The framework contract covers wellhead surface facilities, gathering flowlines, and solar power units under a 36-month agreement.
ADNOC Onshore has awarded three major oil and gas engineering packages worth a combined $2.7 billion to Jereh Oil & Gas Engineering Corporation – Abu Dhabi. The contracts cover the Ruwais Diyab unconventional gas development along with facilities at the Bab and Bu Hasa fields.
Gulf sovereign wealth funds accounted for 62 percent of the US$10.3 billion attracted by China from state-owned investors in 2024. Capital flows are concentrating in finance, downstream petrochemicals, renewables, logistics, and digital infrastructure amid supportive regulatory reforms.
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