The Abu Dhabi National Oil Company, ADNOC, announced that it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. By standardizing the terms and conditions for the procurement of drilling and oilfield goods and services across ADNOC’s entire value chain, ADNOC’s pre-qualified bidders are now subject to the same terms and conditions in competitive tendering, reducing the timeline for legal negotiations from months to weeks, therefore maximising efficiency its tendering process.
“This initiative significantly speeds up ADNOC’s tendering process. The approach underscores our efforts to drive commerciality across our business and proactively respond to the demands of a fast-evolving energy landscape. We are very pleased to have completed this initiative in a timely manner and we continue to work on identifying more win-win solutions for us and our contractors and suppliers to enhance value as we deliver our 2030 strategy,” says Jasim M. Saeed, senior vice president, group procurement at ADNOC.
Over 1,100 international principal companies and United Arab Emirates (UAE) agent companies have signed up to the program, positioning ADNOC as a global industry leader for best-in-class oilfield procurement. By maximising efficiency and value from every ADNOC barrel produced, the Abu Dhabi-based company is set to strengthen relationships with industry peers.
From Baker Hughes to Halliburton to Schlumberger and Weatherford, world-class oil companies have signed up to the program and vouched for its success.
Regina Jones, chief legal officer at Baker Hughes, said: “We were pleased to participate in this process to standardize the procurement terms and conditions and we look forward to continuing to supply ADNOC with technologies and services that take energy forward, making it safer, cleaner and more efficient for people and the planet.”
Hans Klampferer, vice president, Middle East & North Africa at Weatherford, said: “Weatherford was pleased to be offered the opportunity to review and provide feedback and suggestions on ADNOC’s terms and conditions across its numerous transaction-specific templates. With the successful completion of this initiative, the contracting process with ADNOC has been greatly simplified and made more efficient and transparent.”
ADNOC plans to expand the initiative to include process technology licensing agreements and construction agreements as it builds on the success of this first phase.
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ADNOC standardizes tendering process to drive efficiency
ADNOC’s pre-qualified bidders are now subject to the same terms and conditions in competitive tendering
The Abu Dhabi National Oil Company, ADNOC, announced that it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. By standardizing the terms and conditions for the procurement of drilling and oilfield goods and services across ADNOC’s entire value chain, ADNOC’s pre-qualified bidders are now subject to the same terms and conditions in competitive tendering, reducing the timeline for legal negotiations from months to weeks, therefore maximising efficiency its tendering process.
“This initiative significantly speeds up ADNOC’s tendering process. The approach underscores our efforts to drive commerciality across our business and proactively respond to the demands of a fast-evolving energy landscape. We are very pleased to have completed this initiative in a timely manner and we continue to work on identifying more win-win solutions for us and our contractors and suppliers to enhance value as we deliver our 2030 strategy,” says
Jasim M. Saeed, senior vice president, group procurement at ADNOC.
Over 1,100 international principal companies and United Arab Emirates (UAE) agent companies have signed up to the program, positioning ADNOC as a global industry leader for best-in-class oilfield procurement. By maximising efficiency and value from every ADNOC barrel produced, the Abu Dhabi-based company is set to strengthen relationships with industry peers.
From Baker Hughes to Halliburton to Schlumberger and Weatherford, world-class oil companies have signed up to the program and vouched for its success.
Regina Jones, chief legal officer at Baker Hughes, said: “We were pleased to participate in this process to standardize the procurement terms and conditions and we look forward to continuing to supply ADNOC with technologies and services that take energy forward, making it safer, cleaner and more efficient for people and the planet.”
Hans Klampferer, vice president, Middle East & North Africa at Weatherford, said: “Weatherford was pleased to be offered the opportunity to review and provide feedback and suggestions on ADNOC’s terms and conditions across its numerous transaction-specific templates. With the successful completion of this initiative, the contracting process with ADNOC has been greatly simplified and made more efficient and transparent.”
ADNOC plans to expand the initiative to include process technology licensing agreements and construction agreements as it builds on the success of this first phase.
Staff Writer
Lorem Ipsum is simply dummy text of the printing and typesetting industry. Lorem Ipsum has been the industry's standard dummy text ever since the 1500s, when an unknown printer took a galley of type and... More by Staff Writer
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