Abu Dhabi-based NMDC Energy’s growth activities in Saudi Arabia reached a new milestone when it signed an extension for a Long-Term Agreement (LTA) with Aramco.
NMDC Energy, which got listed on Abu Dhabi Securities Exchange (ADX) in September last year, is a provider of engineering, procurement and construction services for offshore and onshore energy clients.
NMDC extends Aramco partnership
NMDC Energy’s services cover detailed engineering, material procurement, fabrication, transportation, installation, and pre-commissioning of offshore facilities in projects to be executed within Saudi Arabian territorial waters.
The agreement has now been extended for another three years, and NMDC Energy has the option to renew it for another three-year period.
Ahmed Al Dhaheri, CEO of NMDC Energy, commented: “Aramco is one of the world leaders in integrated energy, and NMDC Energy is a trusted, strategic partner sharing its vision for the regional and global energy sector.
“Our long-term agreement with Aramco has vast potential for growth, diversification, and transformation, where it will play an important role in realising Saudi Arabia’s economic ambitions, and helping to meet the world’s energy demands.
“We’re also looking forward to working collaboratively with our Saudi partners in areas such as procurement and in the employment of Saudi nationals to ensure we maximise our positive impact in the Kingdom from all upcoming projects.”
The previous LTA with Aramco was signed in 2016. Since then, they have been involved in several projects in Saudi. Earlier this year, NMDC Energy inaugurated an advanced fabrication yard in Ras Al Khair in the Kingdom, deepening its capabilities and opening new possibilities for the regional energy sector there.
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