NPCC’s Profit Rises by 27% in 2018

NPCC’s Profit Rises by 27% in 2018

Abu Dhabi’s oil and gas service contractor, National Petroleum Construction Company (NPCC), increased its profits by around 27% during 2018, which is mainly achieved by Saudi businesses, according to Ahmed Al-Dhaheri, NPCC’s CEO, Reuters reported.

NPCC achieved the profits after winning five projects from Saudi Aramco in 2018 worth $1.1 billion and a $330 million project from India’s Oil and Natural Gas Corporation Limited, in addition to signing a long-term offshore agreement with Aramco in 2016.

The company’s earnings before interest, tax, depreciation, and amortization (EBITDA) reached around $243 million in 2018, with revenues around $1.4 billion.

NPCC targets achieving revenues in 2019 of around $1.9 billion.


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