UAE oil rig builder plans move into wind farms

National Petroleum Construction Co says it is bidding for wind projects in the North Sea
UAE oil rig builder plans move into wind farms
By Bloomberg
Wed 26 Jun 2019 05:05 PM

An Abu Dhabi-based company that builds drilling platforms for oil giant Saudi Aramco plans to diversify into renewable energy by supplying gear for offshore wind farms.

National Petroleum Construction Co is bidding for wind projects in the North Sea and monitoring wind-equipment tenders coming out of India and Southeast Asia, CEO Ahmed Al Dhaheri said in an interview.

NPCC, owned by the government of Abu Dhabi, currently manufactures rigs, storage tanks and other heavy equipment for oil companies in the Middle East and India, including Aramco, the world’s biggest exporter.

“We are looking at developing a new sector, which is renewable energy, and focusing on offshore wind,” Al Dhaheri said in Abu Dhabi, capital of the UAE.

“We are looking to fabricate and install electrical distribution structures for offshore wind farms. We have the required resources and engineering capabilities.”

NPCC expects to complete an acquisition of a medium-size engineering company in Europe to help it expand into renewables and other new lines of business, he said, without giving more details.

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