Abu Dhabi delays $1 billion oil, gas project

摘要

Dubai-Abu Dhabi has delayed an estimated $1 billion oil and gas development project in a further sign of the strain Arab Gulf oil producers are under due to low oil prices, according to sources close to the project. Leading engineering, procurement and construction contractors had been lining up to submit technical bids by July 26 for new gas facilities at the Al-Dabbiya oil and gas field, but the deadline has been pushed back while further appraisal activity was carried out, effectively putting the project on hold.