Al Hassan secures Zauliyah gas project contract

Peter Hall, CEO of Al Hassan.

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Al Hassan Engineering Company has won an engineering, procurement and construction contract for the third phase of the Zauliyah Gas compression project worth OR 14.72m, its second major contract for the third quarter.

The Omani contractor signed the agreement with Petroleum Development Oman, the hydrocarbon and exploration company, last week. The work ranges from initial design of the third phase to procurement, testing, construction right up to handover.

“We are extremely happy to have successfully secured this contract from PDO on EPC basis,” Peter Hall, CEO of Al Hassan, said.

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Al Hassan Engineering, listed on the Muscat Securities Market, is one of Oman’s largest contractors with a particular focus on energy-related projects as well as utilities and industrial infrastructure. The contracting arm is one of three in the Al Hassan Group, which also includes manufacture and trading of electrical equipment.

The deal adds to the repeat work awarded by PDO for the company. Al Hassan is also working on the Amal Power Plant Project for the company as well as two other depletion projects - the Kauther Compression Project - a PDO project Al Hassan wil;l complete with Petrofac - and the Saih Nihayda Depletion Compression Project (a PDO project Al Hassan is completing with Korea’s GS Engineering & Construction) among others.

“The Zauliyah Project builds on our significant reference list in the Oil and Gas sector. Recently, we have successfully commissioned the Nimr-C Full Field Water Injection Project for PDO which was executed by us on EPC basis,” Hall added.

The company recorded OR 44.5m in contract income for the first nine months of 2011, up 13.2% against the same period last year. Net profit declined slightly to OR 1.7m from OR 1.709m. Third quarter earnings were bolstered by its other major contract win of the last three months - the Shuweihat 3,400kV substation in Abu Dhabi, awarded by Siemens.