NPCC
NPCC
The biggest news out of National Petroleum Construction Company this year was the completion of its combination with National Marine Dredging Company, creating a major regional EPC player under the UAE’s holding company ADQ.
The merger was just completed in February 2021, so the combined entityhas yet to take major action in providing new services to the local and regional upstream sector, but is poised to become one of the largest UAE engineering firms for the oil and gas industry, with combined 2019 revenue of $2.41 billion.
NPCC reportedly won a contract in March 2021 to construct facilities to boost output from the UAE’s Umm a-Dalkh oil field by 5,000 barrel per day.
Commenting on the transaction when it was first announced in August 2020, the chief investment officer at ADQ and chairman of Senaat, Khalifa Sultan Al Suwaidi, said: “As one of the largest pan-regional EPC players, this transaction will create a larger, more diversified and financially flexible national champion.
“By bringing together two highly complementary businesses, we will be able to successfully drive increased growth while showcasing the very best of Abu Dhabi and its industry-leading capabilities on the global stage.”
