NMDC Energy Secures $763 Million in Offshore Projects from Saudi Aramco

Abu Dhabi's NMDC Energy has been awarded significant new projects by Saudi Aramco, valued at Dh2.8 billion ($763 million). These contracts involve completing offshore engineering, procurement, and construction (EPC) related works.

The projects are anticipated to be completed within a timeframe of 18 to 23 months, as stated by NMDC Energy in a recent announcement to the Abu Dhabi Securities Exchange (ADX). This latest batch of deals further bolsters the company's portfolio, adding to the Dh2.2 billion in projects secured during the second quarter of the current year. As of the end of June, NMDC Energy's project backlog stood at Dh3.3 billion.

NMDC Energy, a majority-owned subsidiary of the NMDC Group, specializes in providing comprehensive end-to-end solutions. Their services encompass engineering, procurement, pipe laying, project management, fabrication, installation, and commissioning. The company successfully raised Dh3.22 billion through an initial public offering in 2024 and reported a net profit of Dh251 million for the first half of this year, with revenues reaching Dh9.5 billion.

Previously, Chief Executive Ahmed Al Dhaheri indicated NMDC Energy's strategic focus on strengthening collaborations with Chinese firms and exploring expansion opportunities in markets such as Iraq, North Africa, and Nigeria. The company has been actively seeking contracts for both offshore and onshore segments of the energy industry, particularly in Iraq, and primarily offshore opportunities in Nigeria.