The Abu Dhabi National Oil Company (ADNOC) has collaborated with Mubadala Investment Company (Mubadala) and Emirates Nuclear Energy (ENEC) to drive its in-country value (ICV) programme for the United Arab Emirates (UAE).
Launched in January 2018, the programme is to encourage the private-sector companies and opportunities resulting from ADNOC’s 2030 smart growth strategy.
Since the launch, it has driven over AED44bn ($12bn) back into the country’s economy and has also created more than 1,500 private-sector jobs for the residents.
ADNOC has now signed two framework agreements with both the companies to cooperate in further driving ICV for the country.
The company has also signed similar agreements with the Abu Dhabi Department for Economic Development (ADDED), Abu Dhabi Ports, and Aldar Properties to adopt its ICV programme.
As per the terms of the deal, the three companies will explore opportunities to create additional skilled employment opportunities for Emiratis in the private sector and source goods and services within the country.
Over 4,000 suppliers across various sectors are certified in ADNOC’s ICV programme
ADNOC commercial directorate and director Rashed Saud Al Shamsi said: “These agreements build on the success of ADNOC’s ICV program which continues to create opportunities for the private sector, generate jobs for Emiratis, and catalyze socio-economic development in the country, in line with the wise directives of the leadership.
“The agreements will enable ADNOC and both companies collaborate to further drive the localization of goods and services across our value chains and we look forward to swiftly progressing the agreements as they offer significant potential to maximize value for the UAE.”
The company noted that the over 4,000 suppliers across various sectors including oil and gas, construction, food and hospitality are certified in the ICV programme.
Recently, ADNOC Onshore, a subsidiary of ADNOC, has awarded two engineering, procurement, and construction (EPC) contracts worth $245m to upgrade two main oil lines (MOLs) and the Jebel Dhanna Terminal in Abu Dhabi.
