Abu Dhabi National Oil Company has announced the award of framework agreements valued at USD 658 million for cementing services as it continues to invest to enable drilling growth and expand its crude oil production capacity. The framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi, Baker Middle East, Emirates Western Oil Well Drilling & Maintenance Co, NESR Energy Services and Emjel Oil Field Services, following a competitive tender process. These awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years. Over 65% of the award value could flow back into the United Arab Emirates economy under ADNOC’s In-Country Value program over the duration of the agreements. Furthermore, skilled employment opportunities will be created for UAE Nationals by the successful companies who will also work to identify local manufacturing opportunities.The smart nature of the awards will enable ADNOC to realize hundreds of millions of dollars in cost savings. As an integral part of its 2030 strategy, ADNOC is optimizing its procurement strategy to reflect market dynamics, focusing on long-term contracts with an optimized number of suppliers that provide stable and reliable delivery at highly competitive rates.
Abu Dhabi National Oil Company has announced the award of framework agreements valued at USD 658 million for cementing services as it continues to invest to enable drilling growth and expand its crude oil production capacity. The framework agreements were awarded to Haliburton Worldwide Limited Abu Dhabi, Baker Middle East, Emirates Western Oil Well Drilling & Maintenance Co, NESR Energy Services and Emjel Oil Field Services, following a competitive tender process. These awards cover ADNOC’s onshore and offshore fields and will run for five years with an option for a further two years. Over 65% of the award value could flow back into the United Arab Emirates economy under ADNOC’s In-Country Value program over the duration of the agreements. Furthermore, skilled employment opportunities will be created for UAE Nationals by the successful companies who will also work to identify local manufacturing opportunities.The smart nature of the awards will enable ADNOC to realize hundreds of millions of dollars in cost savings. As an integral part of its 2030 strategy, ADNOC is optimizing its procurement strategy to reflect market dynamics, focusing on long-term contracts with an optimized number of suppliers that provide stable and reliable delivery at highly competitive rates.
