ADNOC Announces $55B in New Project Awards

In a release sent to Rigzone recently, ADNOC stated that it is “accelerating growth and delivery of its strategy” with AED 200 billion ($55 billion) in new project awards for 2026-2028.

The company said in the release that the planned project awards reinforce delivery of ADNOC’s five-year capital expenditure plan approved by its board of directors last year “and will usher in a new phase of world-scale project execution across its value chain to meet growing global energy demand”.

ADNOC highlighted in its release that its announcement of new project awards was made at the ‘Make it With ADNOC’ Forum, which it said connected top engineering, procurement and construction contractors with 70 local manufacturers included in ADNOC’s ‘Local+’ list after meeting its technical and qualification standards to support the company’s project requirements.

“The ‘Local+’ initiative under ADNOC’s In-Country Value (ICV) program is aimed at ensuring that Made in the Emirates products are first-choice across ADNOC’s project delivery, supporting the growth of local manufacturers,” ADNOC noted in the release.

ADNOC highlighted that the planned project awards span its upstream and downstream operations “and usher in a new phase of project delivery that will supercharge UAE’s manufacturing capacity, strengthen industrial resilience, deepen the impact of the company’s In-Country Value program and advance the ‘Make it in the Emirates’ initiative”.

In the release, Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, said, “in line with the directives of the UAE leadership to advance the UAE’s energy and industrial sectors, ADNOC is entering a defining execution phase in its strategy, driven by scale, pace and a laser-focus on delivery”.

“This marks a new chapter of growth and resilience to meet rising global energy demand while strengthening and expanding the UAE’s industrial and manufacturing base,” he added.

“As we deliver on this phase of growth, we are bringing together leading EPC contractors with 70 top UAE manufacturers to enhance accountability, maximize in country value and ensure Made in the Emirates products are first-choice across our projects, and are at the core of how we procure, build and execute,” he continued.

“We invite partners who can move at the pace of the UAE’s ambitions, match flawless execution with rock-steady reliability and demonstrate an unwavering focus on local value creation to join us in this new chapter of our journey,” he went on to state.

In another statement sent to Rigzone on Monday, ADNOC announced that it had launched an “Industrial Resilience Program” at the start of the fifth edition of the Make it in the Emirates forum, “introducing five initiatives that will strengthen UAE supply chains, accelerate local manufacturing, reinforce business continuity capabilities and develop sustainable industrial capacity across strategic sectors”.

These initiatives include the ‘Local+’ initiative, ADNOC highlighted, noting that this prioritizes Made in the Emirates products “as first-choice across ADNOC’s project pipeline and awards of AED200 billion for 2026-2028”.

“The Industrial Resilience Program builds on ADNOC’s hugely successful In-Country Value (ICV) program and encourages ADNOC’s contractors to prioritize local sourcing for high-priority products that can be domestically produced to serve multiple sectors,” ADNOC said in this release.

“The program will future-proof ADNOC’s value chain and mitigate the company’s exposure to global supply chain disruptions. It will also position Made in the Emirates products as the first choice for ADNOC’s projects, supporting the growth of local manufacturers and the UAE’s industrial base,” it added.

Omar Abdulla Alnuaimi, ADNOC’s Acting Group Chief, Commercial and ICV, said in this release, “in line with the UAE leadership’s directives to strengthen industrial resilience and accelerate local manufacturing, ADNOC is delighted to launch its Industrial Resilience Program, building on the success of its In-Country Value program in driving economic and industrial growth”. 

“We are introducing a suite of strategic initiatives to expand manufacturing capacity and provide long-term demand visibility to industry partners, and ensure Made in the Emirates products are first-choice across all ADNOC projects,” Alnuaimi added.

“We look forward to working with our local and international partners to maximize the benefits of this program and advance the UAE’s industrial base,” Alnuaimi continued.

ADNOC highlighted in its release that it is continuing to progress its target to locally manufacture $24.5 billion (AED 90 billion) worth of products by 2030.

“These include more than 150 high-priority industrial products across its value chain, including drilling equipment, process chemicals, valves, oil country tubular goods (OCTG), and other equipment,” ADNOC pointed out.

In another release sent to Rigzone this week, TA’ZIZ, a joint venture between ADNOC and ADQ, which ADNOC describes as a critical enabler of the UAE’s industrial development and economic diversification ambitions, highlighted that it announced agreements valued at $28.5 billion at the Make it in the Emirates forum “to expand [the] UAE’s chemicals ecosystem”.

“TA’ZIZ … announced at the Make it in the Emirates forum the signing of long-term agreements spanning offtake, feedstock and sales across its chemicals portfolio, including methanol, polyvinyl chloride (PVC), ethylene dichloride (EDC), vinyl chloride monomer (VCM), caustic soda, salt and natural gas valued at $28.5 billion (AED104.6 billion),” TA’ZIZ said in the release.

“Ranging from five to 25 years, the agreements secure both global offtake and reliable local feedstocks, anchoring large-scale chemical production within the UAE and reinforcing TA’ZIZ’s role in building a fully integrated domestic chemicals ecosystem,” it added.

“The deals include sale agreements with ADNOC and Proman for methanol; Emirates Global Aluminium (EGA) for caustic soda; Mitsubishi Corporation for EDC, VCM and caustic soda; Mitsui & Co. for EDC and caustic soda; Sanmar Group for EDC and VCM; Tricon for PVC, EDC and caustic soda; and Vinmar for EDC and PVC,” it continued.

Mashal Saoud Al-Kindi, CEO of TA’ZIZ, said in this release, “these long‑term agreements represent a defining milestone for TA’ZIZ and for the UAE’s industrial growth ambitions”.

“By securing both global demand and reliable local feedstock, we are translating vision into delivery, anchoring world‑scale chemicals production, strengthening domestic value chains and creating enduring economic value, jobs and supply‑chain resilience for the UAE,” Al-Kindi added.

To contact the author, email andreas.exarheas@rigzone.com