Abu Dhabi-listed National Marine Dredging Company (NMDC) saw its revenues surge to AED 10.7 billion ($2.9 billion) for 2022 after it secured a series of deals with major companies, including Saudi Aramco and ADNOC. 

Total revenues for the whole year were 35% higher than the previous year’s AED 7.9 billion, while total net profit reached AED 1.3 billion, up by 30% from AED 1 billion a year ago, according to a disclosure on the Abu Dhabi Securities Exchange (ADX) on Thursday.

The Group’s total assets also climbed by 24% to AED 16 billion. 

In a statement, the company said it was able to strengthen its position in the country and across the region, with contracts worth more than AED 9.6 billion secured in 2022. 

Last year, the company secured mega deals, including the Umm Shaif Field and Lower Zakum Field contracts with ADNOC for more than AED 5,945 million and Saudi Aramco projects worth over AED 2,471 million. 

“As we look to the future, we expect to maintain healthy growth levels, executive projects … and enhance our capabilities in supporting energy transition plans,” said Mohammed Thani Murshid Ghannam Al-Rumaithi, Chairman of NMDC Group. 

(Writing by Cleofe Maceda; editing by Daniel Luiz)