Continued from front

摘要

Tenders for engineering, procurement, installation and construction (EPIC) works, meanwhile, are expected to be released in 2012. In Sharjah, Dana Gas has announced EPIC tenders for the USD 120-150 million Zora gas field, which is expected to produce 60-90 million standard cubic feet per day for 25 years. Offshore projects such as these bode well for the OSV market over the next few months, although some companies have already been seeing favourable results since early this year. Egypt's Maridive and Oil Services, for instance, announced a 37% rise in first-half profits - mainly due to having secured more construction contracts - from a year earlier. It said it earned USD 36.2 million, before minority interests, between January and June, as compared to USD 26.4 million for the same period in 2010. This has made Maridive, the Middle East's biggest oil services firm by fleet size, confident of hitting its year-end revenue estimates, considering that its operations are offshore, and therefore not affected by the political turmoil in Egypt.