Abu Dhabi’s NMDC awarded projects worth $763m by Saudi Aramco

Show caption: An NMDC Energy vessel. The new deals add to the Dh2.2 billio…

Completion of work expected within two years

• NMDC Energy was awarded projects worth $763.3 million by Saudi Aramco for offshore engineering, procurement, and construction works.
• Project completion is expected within 18 to 23 months, adding to $599 million in awards secured in the second quarter of 2026.
• The Abu Dhabi-listed company reported a net profit of $68.3 million for the first half of 2026, with revenue reaching $2.59 billion.
• NMDC Energy raised $877 million through an Initial Public Offering in 2024, listing over 1.15 billion shares on the Abu Dhabi Securities Exchange.
• The company is targeting expansion in Iraq, North Africa and Nigeria, with its chief executive saying it is "looking for opportunities" across offshore and onshore energy segments.

Abu Dhabi’s NMDC Energy has been awarded new projects worth Dh2.8 billion ($763 million) by Saudi Aramco to complete offshore engineering, procurement and construction-related works.

Completion of the projects is expected to take between 18 and 23 months, NMDC Energy said in a statement on Friday to the Abu Dhabi Securities Exchange (ADX), where its shares are traded. It did not provide further details.

The new deals add to the Dh2.2 billion in projects secured by the company in the second quarter of this year. The company's project backlog stood at Dh3.3 billion at the end of June.

NMDC Energy, a majority-owned subsidiary of NMDC Group, offers end-to-end solutions including engineering, procurement, pipe laying, project management, fabrication, installation and commissioning.

The company raised Dh3.22 billion from an initial public offering in 2024 and reported a net profit of Dh251 million for the first half of this year, with revenue reaching Dh9.5 billion.

Chief executive Ahmed Al Dhaheri told The National last year that NMDC Energy was aiming to strengthen its collaboration with Chinese companies and looking for opportunities in Iraq, North Africa and Nigeria as part of its global expansion plan.

The company was seeking contracts to serve offshore and onshore segments of the energy industry in Iraq, with mostly offshore jobs in Nigeria, he said.

Updated:

October 23, 2026, 6:43 AM