Abu Dhabi-based energy industry contractor National Petroleum Construction Company (NPCC) and France-based energy engineering and technology company Technip Energies have signed an agreement to establish a joint venture company headquartered in Abu Dhabi, it was announced on Tuesday.

The signing ceremony took place in Paris on the sidelines of the state visit by the UAE President Sheikh Mohammed bin Zayed Al Nahyan to France. 

NPCC said in a press statement that the new company, called NT Energies, will target energy transition projects in the UAE and the broader Middle East and North Africa region by providing added value services in blue and green hydrogen and related decarbonisation projects, CO2 capture in addition to industrial projects in the fields of waste-to-energy, biorefining, biochemistry, as well as other energy transition related themes.

The new JV will also provide onshore and offshore oil and gas fields and facilities services, building and energy efficiency services, oil tanks installation and repair, installation, maintenance and manufacturing of alternative energy equipment as well as oil and gas facilities consultancy and engineering consultations on alternative energy and research.

The statement said the agreement was signed by NPCC’s CEO Ahmed Al Dhaheri and Technip Energy's CEO Arnaud Pieton in the presence of the foreign ministers of UAE and France.

NPCC is wholly-owned by the Abu Dhabi Stock Exchange-listed National Marine Dredging Company (NMDC).

(Writing by SA Kader; Editing by Anoop Menon)