Abu Dhabi’s NMDC Energy has been awarded new projects worth Dh2.8 billion ($763 million) by Saudi Aramco to complete offshore engineering, procurement and construction-related works.
Completion of the projects is expected to take between 18 and 23 months, NMDC Energy said in a statement on Friday to the Abu Dhabi Securities Exchange (ADX), where its shares are traded. It did not provide further details.
The new deals add to the Dh2.2 billion in projects secured by the company in the second quarter of this year. The company's project backlog stood at Dh3.3 billion at the end of June.
NMDC Energy, a majority-owned subsidiary of NMDC Group, offers end-to-end solutions including engineering, procurement, pipe laying, project management, fabrication, installation and commissioning.
The company raised Dh3.22 billion from an initial public offering in 2024 and reported a net profit of Dh251 million for the first half of this year, with revenue reaching Dh9.5 billion.
Chief executive Ahmed Al Dhaheri told The National last year that NMDC Energy was 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.
The company was seeking contracts to serve offshore and onshore segments of the energy industry in Iraq, with mostly offshore jobs in Nigeria, he said.
