NPCC awarded $2.23bn contract by Saudi Aramco

Published on : 2022-01-04

Abu Dhabi’s National Petroleum Construction Company, which is wholly owned by the National Marine Dredging Company, was awarded a major contract by Saudi Aramco for works related to the Zulf marine field in the kingdom.

The contract is valued at Dh8.2 billion ($2.23bn), NMDC said on Monday in a statement to the Abu Dhabi Securities Exchange, where its shares are traded. The company said the project will be executed over three years, without divulging further details.

NPCC was merged with NMDC last year and has operations in the Arabian Gulf, South Asia and South-East Asia. It plans to expand to Africa and the Caspian region.

The company owns a fleet of 23 offshore vessels with modern equipment to support its shallow and deep water operations in the oil and gas sector.

The awarding of the new contract comes on top of other contracts won by the company last year, including a $744 million contract by Abu Dhabi National Oil Company to develop the offshore Belbazem block to boost its light crude production capacity to 45,000 barrels per day, with the first barrel of oil expected in 2023.

NPCC also signed a strategic agreement with Egypt’s Petroleum Projects and Technical Consultations to explore engineering, procurement and construction opportunities in the UAE and Egypt as well as a preliminary agreement with France's Technip Energies to form a joint venture to collaborate on energy transition projects in the UAE and the broader Middle East and North Africa region.

Last week, its parent company, NMDC, won a major contract from Abu Dhabi Ports for works related to the Shamal Development marine project. The total value of the contract is Dh1.3bn.

The Shamal Development is part of Khalifa Port, located in Taweelah, Abu Dhabi, midway between Mina Zayed and Jebel Ali Port, which was built on a reclaimed artificial island reaching 4.5 kilometres offshore. The project is scheduled for completion in October 2023.

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