ADNOC unveils new ICV model to boost competitiveness and simplify supplier contracts

Abu Dhabi: Abu Dhabi National Oil Company (ADNOC) is revolutionizing its Independent Contractor Verification (ICV) process to enhance competitiveness and streamline supplier contracts. At the Make It with ADNOC Forum, Senior Vice President of Commercial Affairs, Group Local Value and Industrial Development Salama Al Awadhi revealed that registration will be 80% faster, with AI validating documents and a new blended weighting scoring model replacing the previous one.

The old ICV model, which operated since 2018, will be retired, with the new system assigning 70% weight to commercial aspects and 30% to ICV score. Contracts under $50 million will be exempt from ICV, while those between $2 million and $50 million will follow the new 70/30 model. Contracts exceeding $50 million will incorporate the 70/30 model along with an ICV improvement plan, while mega projects over $200 million will receive customized ICV requirements.

ADNOC is also automating ICV retention, eliminating the need for manual email communication or entries. Suppliers only need to upload their ICV certification, and the system will automatically generate their ICV obligations, facilitating payment processing. Additionally, Local Plus, a program promoting local manufacturers, will be embedded in all EBC contracts announced last May. More than 100 manufacturers now participate in Local Plus.

The new ICV methodology aims to be simpler, faster, and more competitive, with the old logo being retired in favor of a fresh identity. Al Awadhi emphasized that these changes are a result of extensive dialogue with suppliers, who provided invaluable feedback on what worked well and what needed improvement.