The Abu Dhabi National Oil Company (ADNOC) declared expanding its In-Country Value (ICV) program through assigning a group of 6 additional third-party certifying bodies, ADNOC announced on April 1.
The group will be responsible for verifying and measuring the ICV suppliers’ performance and increasing the number of the participating bodies to 12.
“The launch of ADNOC’s In-Country Program was a critical step in catalyzing our nation’s progress and development. We’re pleased with the constructive and positive feedback we’ve received from our partners and suppliers this past year, and we look forward to driving even more in-country value in the years ahead,” Rashed Al Shamsi, Business and Commercial Support Director at ADNOC, said.
The ICV program was launched in January 2018 with the aim to increase the competition among the private sector, decrease the certification costs, and improve the ICV’s overall efficiency, which will be reflected positively on the United Arab Emirates (UAE)’s economy.