Saturday, August 27, 2005


Main works construction in the recently developed Kashagan Oil Field will be undertaken by the winning NCC (North Caspian Contractors) Joint Venture consisting of international contractors including Gama Industry. Gama Industry has a 25% share in the project that will be undertaken for AGIP KCO, which approved the letter of intent on March 24, 2005 finalizing the tender process. The overall project value is USD 677 million, of which USD 500 million will be undertaken by the NCC Consortium’s nominated subcontractor GATE Inc, a Gama subsidiary. The construction is expected to start in April 2005 and 10.000 personnel will be employed at site at the peak of the project according to initial estimates.

GATE had been awarded two additional projects in the same district earlier this year. The first was the construction of industrial region buildings in the Kashagan Oil Field undertaken as a main contractor, while the second was the construction of a 175 MW Gas Turbine Power Plant undertaken as a subcontractor.


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