SNC-Lavalin gets $10-million contract from Abu Dhabi
SNC-Lavalin Group Inc, a Montreal engineering giant has been awarded the contract worth $ 10-million by the United Arab Emirates. The firm would study a large number of projects for the Abu Dhabi National Oil Co. for increasing its financial prospectus.
Hailing the deal, Jean Beaudoin, the Executive Vice-president of SNC-Lavalin, added, "These studies are a key project for SNC-Lavalin, as they address greenhouse gas issues, as well as sustainability approaches in the UAE, and in the oil and gas industry in general."
The government intends to ensure proper supply of green house gases in the oil reservoirs in a bid to ensure smooth and improved oil production rate. Elaborating the plans, Jean Beaudoin, the Executive Vice-president of SNC-Lavalin added, "This is an important contract for SNC-Lavalin since the work addresses greenhouse gas issues and sustainability, and has implications for the oil and gas industry in general."
SNC-Lavalin has geographical presence in more than 100 countries around the world and offices in around 35 countries. Shares of the company surged nearly 2% on Monday and trading at $49.93 on the Toronto Stock Exchange.
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