Abu Dhabi's NPCC signs collaboration deal with Chinese contractors
Company will work with CPECC and CNCEC on potential projects both at home and in China
The National Petroleum Construction Company (NPCC), an Abu Dhabi-based oil and gas contractor, signed agreements with two Chinese competitors to jointly explore onshore and offshore oil and gas deals, and collaborate on other potential areas of interest.
NPCC, which is owned by Abu Dhabi's industrial holding company Senaat, signed preliminary agreements with China Petroleum Engineering & Construction Corporation (CPECC), which is affiliated to China National Petroleum Construction (CNPC), and with China National Chemical Engineering Co (CNCEC) on the sidelines of the World Energy Congress in Abu Dhabi on Monday.
The agreement with CPECC will "explore potential opportunities to cooperate on projects that will create value for both companies, and exchange information, data and insights, where relevant, for possible cooperation on future projects", NPCC said in a statement.
The agreement with CNCEC will see the pair cooperate on potential projects for Abu Dhabi National Oil Company (Adnoc) and on opportunities for financing Adnoc projects in the Mena region. It will also "evaluate opportunities on existing Adnoc projects".
“The two agreements will further drive the global ambition of NPCC to become one of the largest providers of EPC solutions for the energy sector," said the company's chairman, Mohamed Rashed Al Hameli. "We have proven competencies in undertaking complex fabrication and manufacturing for onshore and offshore projects, which will add value to any potential partnership with CPECC and CNCEC. It will also enable us to expand our footprint in China, one of the largest growth markets for the energy sector."
Ahmed Al Dhaheri, the chief executive of NPCC, described the deal as "one of our first collaborative outreach initiatives in China, where we see significant opportunity to expand our presence and offering".
"Both CPECC and CNCEC are market leaders, with specialised skills in EPC and lumpsum contracting, including strong international experience," he said.
CPECC and CNCEC are among the world's biggest contracting companies. In its latest ranking of the world's top 250 global contracting companies, US-based trade title Engineering News Record ranked CNCEC as the world's 27th-biggest contracting company and CPECC as the world's 46th-biggest.
CPECC has been in operation for 46 years, and has been working in the UAE since 2006. It had completed a number of major projects locally, including the Abu Dhabi Crude Oil Pipeline Project, and the Mender Field Development Project, among others. CNCEC specialises in petrochemicals, oil & gas, infrastructure and power generation work.
Published: September 9, 2019 05:15 PM