Abu Dhabi National Oil Company (ADNOC) has announced it has identified AED70bn (approximately US$19bn) worth of products in its procurement pipeline which could be manufactured locally
Of this value, ADNOC has signed agreements worth US$5.7bn with UAE and international companies at the Make it in the Emirates Forum, which took place in Abu Dhabi. These contracts will see ADNOC and its partners set up and expand manufacturing facilities, as well as explore the potential for new investments.Opportunities in local manufacturing comprise over 100 products to be utilised across ADNOC's full value chain as it eyes operational expansion to cater for the growing global energy demand.
The company's purchase of these products is currently aimed to be completed between 2022 and 2030. H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC managing director and group CEO, said, “ADNOC is reinforcing its role as a critical engine for the UAE’s industrial growth as we expand our operations to cater for the world’s growing energy demand. In line with the UAE Leadership’s wise directives and our national industrial strategy, ADNOC is creating multiple long-term domestic manufacturing opportunities for the private sector. We invite manufacturers to join the UAE in our industrial growth journey as we strengthen the resilience of our supply chains.”
The products with local potential span drilling; mechanical and heating ventilation and air conditioning; technology; piping; fittings and valves; electric submersibles; instruments, control and telecoms; maintenance, repair and operations; chemicals; electrical; and offshore architecture.
ADNOC is also driving the UAE’s industrial growth through the expansion of its downstream business. The TA’ZIZ Industrial Chemicals Zone, ADNOC’s joint venture with ADQ, will produce new industrial chemicals in the UAE for the first time, replacing chemicals currently imported, while also exporting to meet growing demand for these chemicals globally. ADNOC has already welcomed major local and international partners and investors into the TA’ZIZ Industrial Chemicals Zone.
ADNOC signed expressions of interest with more than 20 investors in the TA’ZIZ Light Industrial and Services Zones at the Make it in the Emirates Forum.