Wednesday, May 25, 2011
BEIRUT (Zawya Dow Jones)--Oman's Galfar Engineering and Contracting Wednesday said it has been awarded a 37 million Omani rials ($96.1 million) deal from the mainly state-owned Petroleum Development Oman, or PDO.
"We expect reasonable income from this project," the company said in a statement posted on the Muscat bourse website.
The deal involves works, estimated to take 1,065 days, at PDO's water flood projects in the Nimr G and Karim West sites, according to the statement.
Galfar Engineering's shares closed higher 0.7% at OMR0.439 in an overall negative market Wednesday.
By Shikrallah Nakhoul, Zawya Dow Jones, +961 1 985757, shikrallah@zawya.com
Copyright (c) 2011 Dow Jones & Co.
(END) Dow Jones Newswires
25-05-11 1110GMT
