A trio of leading international engineering, procurement and construction players have submitted commercial bids to Abu Dhabi-based Al Yasat Petroleum Operations Company for its Belbazem offshore development that is expected to be worth upwards of $1 billion, writes Nishant Ugal.

Project watchers told Upstream that commercial offers for the prized EPC contract were submitted to Al Yasat on 31 October.

“We have just submitted the price offer and an award is likely to be placed before the end of this year,” a source close to the tender process said.