Abu Dhabi’s National Petroleum Construction Company joined forces with Egypt’s Engineering for the Petroleum and Process Industries on a number of projects in the Middle East and North Africa region.
As per the pact, both parties will work together to secure mutually agreed projects and examine potential opportunities.
The agreement signals that “we are a committed partner in strengthening the bilateral ties between the UAE and Egypt through mutually rewarding expansion plans”, said Yasser Zaghloul, group chief executive of National Marine Dredging Company, which owns NPCC.
“We are using solutions at our disposal to facilitate further diversification of our business interests. In view of these goals, we see ENPPI as a strategic partner as we look forward to aligning with them on ventures of mutual interest,” said Mr Zaghoul.
NPCC was merged with NMDC last year and has operations in the Arabian Gulf, South Asia and South-East Asia. It plans to expand to Africa and the Caspian region.
The company owns a fleet of 23 offshore vessels with modern equipment to support its shallow and deep water operations in the oil and gas sector.
Last month, it was awarded a $2.23 billion contract by Saudi Aramco for works related to the Zulf marine field in the kingdom.
NPCC also signed a strategic agreement with Egypt’s Petroleum Projects and Technical Consultations to explore engineering, procurement and construction opportunities in the UAE and Egypt as well as a preliminary agreement with France's Technip Energies to form a joint venture to collaborate on energy transition projects in the UAE and the broader Mena region.
“Through this agreement we aim to expand our presence in Egypt and look ahead at partnering with ENPPI to unlock future opportunities in the wider Mena region,” Ahmed Al Dhaheri, chief executive of NPCC, said.
“This collaboration highlights the necessity of knowledge sharing and mutually rewarding collaborations in a global scenario where business dynamics and ground realities keep changing daily.”
