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| 23 January, 2018

UAE's NPCC wins $327mln contract from India's ONGC

The contract includes survey, design and installation of five oil well platforms.

Goldman Sachs says oil stock draws have peaked this year. Image used for illustrative purpose.

Goldman Sachs says oil stock draws have peaked this year. Image used for illustrative purpose.

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ABU DHABI- Abu Dhabi-based National Petroleum Construction Company (NPCC) on Tuesday said it won a $327 contract from India's Oil & Natural Gas Corp Ltd to build offshore infrastructure on the west coast of the Asian country. NPCC, majority owned by Abu Dhabi's General Holding Corp (Senaat), is an engineering, procurement & construction (EPC) contractor, having won several contracts from ONGC in the past. The contract includes survey, design and installation of five oil well platforms, pipelines and cables as well as commissioning services at the ONGC's Ratna field on the west coast of India, a statement from NPCC said.

(Reporting By Stanley Carvalho) ((stanley.carvalho@thomsonreuters.com; + 9712 6444431; Reuters Messaging: stanley.carvalho.thomsonreuters.com@reuters.net))