ADNOC Gas has awarded a contract worth $3.60 billion, equivalent to AED 13.10 billion, to the joint venture (JV) between National Petroleum Construction Company (NPCC) and Tecnicas Reunidas S.A. to increase the listed firm’s gas processing infrastructure nationwide, according to a press release.
The contract, which was announced on 9 August 2023, covers the commissioning of additional gas processing facilities to help with enabling utilised supply to the Ruwais Industrial Complex.
More than 70% of the award contract value will benefit the UAE’s economy under ADNOC's successful In-Country Value (ICV) programme, which backs domestic economic growth and diversification.
CEO of ADNOC Gas, Ahmed Mohamed Alebri, commented: “The expansion of our gas processing infrastructure will also provide additional energy to the country’s growing industrial section, while stimulating economic growth and diversification through the significant ICV generated by the contract”
It is worth noting that ADNOC posted a net income worth AED 2.25 billion during the first half (H1) of 2023, compared with AED 2.55 billion in H1-22.
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