Arabtec Construction could see up to Dh3 billion (US$817 million) trimmed from its Dh10bn contract to build Gazprom Neft’s headquarters in St Petersburg as the Russian oil producer reviews the project because of an economic slowdown in the country.

Arabtec, the UAE’s largest and only publicly listed construction firm, won the contract in April, its largest this year.

The contract involves the construction of the Okhta Centre, which includes a 400-metre tower, five other buildings, office space and leisure facilities, on behalf of Gazprom Neft, a subsidiary of state-owned gas company Gazprom. But the project’s design has since been revised to reduce costs.

The National