ADNOC signs agreements with 25 companies for local manufacturing opportunities potentially worth up to AED35 billion

• Agreements with local and international companies aim to localize manufacturing of key products for UAE energy sector
• Multiple products to be produced in the UAE including pressure vessels; compressors; pipeline inspection instruments; specialty valves; industrial pumps and flame and gas detectors
• Investment will stimulate local economic and industrial growth, create private sector jobs for UAE nationals
• The “Make It In The Emirates” initiative is a key part of the UAE’s strategy to double the GDP contribution of the industrial sector to AED300 billion by 2031
• Encouraging the Private Sector to Take Advantage of Business Opportunities in ADNOC’s Value Chain at its 6th Annual Business Partners Forum

Abu Dhabi National Oil Company (ADNOC) Signed agreements with 25 companies of potential value AED 35 billion This will stimulate investment in local manufacturing of key products to support the diversification of the United Arab Emirates (UAE) industrial and manufacturing infrastructure.

The agreements set out the supplier’s intent to produce 21 products in the UAE in support of ADNOC’s 2030 strategy as it cements its position as one of the world’s leading producers of low-cost, low-carbon-intensity energy. Leading companies that have signed agreements with ADNOC include Siemens, Halliburton, Celeros FT, Emerson, Proton R&D and Schneider Electric.

Products that can be manufactured in the UAE include pressure vessels; compressors; pipeline inspection instruments; specialty valves; industrial pumps; switchgear; variable speed drives and flame and gas detectors. These agreements also see investments in machining, reverse engineering and non-destructive testing equipment.

The announcement was ADNOC 6th Annual Business Partner ForumHeld on the sidelines of the Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC), His Excellency Omar Ahmed Suwaina Al Suwaidi, Deputy Minister of Industry and Advanced Technology, said that the UAE’s “Made in the UAE” initiative is a key part of the country’s strategy to reach 2031 Double the contribution of the industrial sector to UAE GDP to AED 300 billion.

Al Suvedi said: ‘The UAE is emerging as one of the world’s major industrial and technology hubs. It has the most competitive industrial sector in the Arab world, ranking 31st globally in UNIDO’s Competitive Industrial Performance Index. Our national industrial strategy “300 Billion Operations” provides the foundation for this global reputation. The cornerstone of this comprehensive strategic roadmap is the “Make it in the Emirates” campaign, which focuses on 11 priority areas to support the development of national industries and attract investment. However, it is not just about joining the UAE’s industrial transformation and development. It’s also about accessing and benefiting from our truly unique value proposition.

“For example, companies established in the UAE have access to a reliable, cost-effective and sustainable energy supply, including clean energy alternatives such as solar and hydrogen. They can also take advantage of our strategic location, world-class logistics infrastructure, access to Opportunities in key global markets and foreign ownership laws. One of the key competitive advantages associated with the “Made in the Emirates” program is the implementation of advanced technologies in the local industrial sector.

Abdulmunim Saif Al Kindy, Executive Director, People, Technology and Corporate Services, ADNOC Group said: ‘ADNOC has an exciting vision that will allow us to thrive in a low carbon future and continue to support the nation’s prosperity for years and decades to come. These agreements, potentially worth AED35 billion, will see significant investment flow back into the local economy through ADNOC’s domestic value scheme.

‘We are taking a transparent approach to presenting our product prospects to stimulate local market readiness as we continue to expand our domestic value programme to support domestic manufacturing, strengthen the UAE’s industrial base and create more skilled private sector workers for UAE nationals.’ Departmental employment opportunities, in line with the instructions of wise leadership.

At the Business Partners Forum, ADNOC encouraged the private sector to take advantage of business opportunities and strengthened its commitment to partnering with local and international investors and suppliers as it expands its operations to meet growing global energy demand.

ADNOC Commercial and Domestic Value Director Dr. Saleh Al Hashimi said: “We are ready to work with investors and suppliers to enable them to establish or expand manufacturing in the UAE, and we invite local and business partners to seize the significant opportunities this will create. We look forward to working with our partners to further support the UAE economy growth and diversification.

More than 1,000 people attended the Business Partnership Forum, where ADNOC showcased its ambitious growth plans and continued support for developing the capabilities and capabilities of its local supply chain. ADNOC’s highly successful ICV programme is an integral part of these programmes and has brought AED 132.5 billion (US$ 36.1 billion) back into the UAE economy since it was launched in 2018.

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Source: ADNOC