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ADNOC signs agreements worth $9.5 billion with domestic and international players

05/11/2022

Abu Dhabi National Oil Company (ADNOC) has signed deals worth AED 35 billion ($9.52 billion) with 25 leading domestic and international players for multiple oil and gas industry products to be manufactured within the emirate of Abu Dhabi.

The agreements set out the suppliers intention to manufacture 21 products in the United Arab Emirates, supporting the delivery of Adnoc’s 2030 strategy

Leading companies who have signed agreements with Adnoc include Siemens, Halliburton, Celeros Flow Technology, Emerson, Proton R&D and Schneider Electric

Among the key oil and gas industry products that would be manufactured in the UAE are pressure vessels, compressors, pipeline inspections gauges, specialist valves, industrial pumps, switchgear and other key equipment

The agreements could also see investments made in machining, reverse engineering and non-destructive testing equipment

Adnoc is spending billions of dollars to expand its oil and gas production capacity in the coming years.

Abu Dhabi is likely to achieve oil production capacity of 5 million barrels per day as early as 2025.

KeyFacts Energy: ADNOC UAE country profile

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