Abu Dhabi-listed NMDC Energy is aiming to strengthen its collaboration with Chinese companies and looking for opportunities in Iraq, North Africa and Nigeria as part of its global expansion plan, its chief executive says.
NMDC, formerly National Petroleum Construction Company (NPCC), which provides engineering, procurement and construction services to clients, is active in the UAE, Saudi Arabia, India and Taiwan, with a backlog of contracts worth Dh56 billion ($15.2 billion).
It is looking at contracts to serve offshore and onshore segments of the energy industry in Iraq, while it will be mostly offshore jobs in Nigeria, Ahmed Al Dhaheri told The National on the sidelines of the Make it in the Emirates event in Abu Dhabi.
The company expects “huge potential” in offshore wind energy projects and completed one project in Taiwan with total capacity of 640 megawatts.
“We are now investing in a dedicated offshore wind vessel, hopefully, this will enable us to execute [engineering, procurement and construction] jobs not only in South-east Asia but also in Europe where lots of offshore wind projects are happening,” Mr Al Dhaheri said.
Countries are focusing on developing renewable energy projects, including in the offshore wind segment, to cut emissions.
NMDC Energy is also looking to boost collaboration with Chinese companies.
This week, it signed an agreement with Chinese firm Hilong to explore joint venture agreements for works related to pipeline coating and materials to serve energy clients in the UAE and Saudi Arabia.
Its parent NMDC Group also signed an initial agreement with Jiangsu Juxin Petroleum Steel Pipe to explore areas of collaboration. The long-term aim is establishing fabrication facilities in the UAE for metallic pipes for use in dredging.
“I expect to see more collaboration with Chinese companies,” Mr Al Dhaheri said. “We try to capitalise on the current supply chain and today, many of our supplies are coming from China.”
The UAE and China, the world's second-largest economy, are strengthening economic ties.
Last month, Adnoc opened an office in Beijing and signed new liquefied natural gas supply agreements with Chinese companies.
NMDC Energy has injected Dh17 billion into the local economy since the inception of the in-country value programme in 2018, the chief executive said.
The company is procuring products from local suppliers as well as awarding contracts as part of the localisation initiative, he added.
