ADNOC has awarded contracts worth $196.2m to 11 companies to boost local manufacturing of diverse products across its value chain as part of the ICV programme.
The contracts were awarded at ADNOC’s Business Partnership Forum held during the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).
These contracts support the Make it in the Emirates (MIITE) initiative, which is aimed at increasing local manufacturing of critical industrial products.
The contracts awarded to Corrosion Technology Services Middle East and Bin Sari Specialized Technologies cover various manufacturing needs including cathodic protection for well casing. Al Ghaith Industries was selected for caustic soda and ready-mixed brine production.
Emirates National Chemicals Company will manufacture demulsifier, while Geebee Garments, Imperial Garments Industry and LIWA Petroleum – Industrial Supplies will provide jackets, coveralls and raincoats.
The National Factory for Safety and Security Products and Al Masaood Oil Industry Supplies & Services Company will supply safety shoes and helmets, respectively.
Ali & Sons Oilfield Supplies & Services and Aquachemie Chemicals Trading, known as AquaChemie Global Chemicals, were also awarded the contracts.
Alongside these contract awards, eight United Arab Emirates (UAE) manufacturing facilities were inaugurated by ADNOC's partners as part of the ICV programme. A total of 33 facilities have been established to date since the MIITE initiative began.
ADNOC also launched its Responsible Sourcing Programme to promote sustainable procurement and transparency within its supply chain.
Since 2018, ADNOC's ICV programme has reinjected $51bn into the UAE's economy and created 14,000 jobs by establishing local manufacturing capabilities. It aims to drive an additional $48bn and create 13,500 new jobs by 2028.
ADNOC Logistics & Services (ADNOC L&S) also signed contracts worth $4.4bn to build 23 supertankers for the storage of ethane, ammonia and LNG, on the sidelines of the ADIPEC 2024, reported Emirates News Agency.
Through its AW Shipping joint venture, ADNOC L&S awarded $1.9bn to China’s Jiangnan Shipyard for nine very large ethane carriers and four very large ammonia carriers, and signed $2.5bn contracts with Korea’s Samsung Heavy Industries and Hanwha Ocean for up to ten LNG carriers.
ADNOC L&S CEO Captain Abdulkareem Al Masabi said: “Upon completion of the acquisition, it will contribute to consolidating our position as a leading global energy maritime logistics company with a strong presence in 15 cities across five continents and a fleet of 32 tankers."
In a parallel development, Weatherford International, an oilfield services company, secured a three-year contract from ADNOC for rigless services to reactivate ADNOC onshore strings. The project is scheduled to commence in this quarter.
