ADNOC (Abu Dhabi National Oil Company) announced today that it identified $19 billion worth of products it could manufacture locally in its procurement pipeline.
During the Make it in the Emirates Forum taking place in Abu Dhabi, ADNOC signed agreements worth AED21 billion ($5.7 billion) with UAE and international companies.
Under the agreements, the companies will establish and expand manufacturing facilities in the UAE as well as explore the possibility of new investments in local manufacturing with ADNOC.
In order to meet the growing demand for energy globally, ADNOC plans to manufacture over 100 products locally, which will be utilized across its entire value chain.
ADNOC anticipates purchasing these products between 2022 and 2030 and is urging the private sector to take advantage of this pipeline by investing in the UAE’s manufacturing sector to produce the products locally.
UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO Sultan Ahmed Al Jaber said: “ADNOC is reinforcing its role as a critical engine for the UAE’s industrial growth as we expand our operations to responsibly cater for the world’s growing energy demand. In line with the UAE Leadership’s wise directives and our national industrial strategy.”
Signed agreements include a strategic collaboration agreement with India’s Intech Organics; framework agreements with Schlumberger and Independent Technical Services (ITS); a strategic collaboration agreement with MaxTube Saje for the local manufacturing of glass reinforced epoxy (GRE); a strategic collaboration agreement with NOV-Tuboscope; and a strategic collaboration agreement with Soluforce.
ADNOC is also driving the UAE’s industrial growth through the expansion of its downstream business. ADNOC’s joint venture with ADQ, the TA’ZIZ Industrial Chemicals Zone, will produce new industrial chemicals for the first time in the UAE, replacing chemicals currently imported and exporting to meet growing market demands. ADNOC has already welcomed major local and international partners and investors into the TA’ZIZ Industrial Chemicals Zone.
The TA’ZIZ Light Industrial and Services Zones will host an ecosystem that will convert the chemicals produced in the TA’ZIZ Industrial Chemicals Zone into consumable products and host companies that provide industrial services to TA’ZIZ and Ruwais Industrial Complex.