Abu Dhabi’s NMDC Energy partners with US company

Abu-Dhabi based NMDC Energy, a provider of engineering, procurement and construction (EPC) services for offshore and onshore energy clients, has entered a Memorandum of Understanding (MoU) in Saudi Arabia with US global energy technology company Baker Hughes, the Emirates News Agency – WAM reported on November 12th.

The agreement will allow Baker Hughes the opportunity to increase the localisation of its products and solutions across Saudi Arabia, serving energy markets across the MENA region as well as Turkey and India.

The collaboration will focus on offshore products as well as associated services in a bid to serve the offshore market. The deal is separate to an MoU that NMDC Energy signed with Baker Hughes, which relates to gas technology products.

“NMDC Energy’s fabrication capabilities have drawn global players, particularly leading entities such as Baker Hughes, who share our vision of finding synergies that meet the evolving energy sector demands in the Kingdom and the wider MENATI region,” said NMDC Energy chief executive Ahmed Al Dhaheri.

“As a strategic enabler of Saudi Arabia’s energy sector through global partnerships, NMDC Energy is committed to finding new pathways towards increased localisation in the Kingdom, supporting economic growth, job creation, and diversification.”

Earlier this year, the Abu-Dhabi based company inaugurated its advanced fabrication facilities in Ras Al Khair, Saudi Arabia, situated within the Ras Al-Khair Special Economic Zone.

The 400,000 sqm fabrication yard is designed to serve offshore and onshore projects, with a yearly production capacity of 40,000 tons.

This news comes after Abu-Dhabi based ADNOC Drilling announced plans to buy an 80 per cent stake in regional drilling and oilfield services provider MB Petroleum Services (MBPS) for $204 million (£157 million). Reuters reported on November 5th that the acquisition adds 21 rigs, 13 in Oman, four in Kuwait and four in Bahrain, and is anticipated to increase earnings, cash flow and returns, increasing footprint in the region.