{
  "id": 16165685,
  "title": "Abu Dhabi’s NMDC awarded projects worth $763m by Saudi Aramco",
  "url": "https://urgent.news/2026/10/23/abu-dhabis-nmdc-awarded-projects-worth-763m-by-saudi-aramco-16165685",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-23T06:43:23.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/business/energy/2026/10/23/abu-dhabis-nmdc-awarded-projects-worth-763m-by-saudi-aramco/"
  },
  "original_language": "en",
  "account": "NMDC Energy, a majority-owned subsidiary of NMDC Group, has secured new projects worth Dh2.8 billion ($763 million) from Saudi Aramco to carry out offshore engineering, procurement, and construction-related works. The completion of these projects is anticipated to take between 18 to 23 months, as per a statement made on Friday to the Abu Dhabi Securities Exchange (ADX) where the company's shares are traded. The new contracts bring the total value of projects secured by NMDC Energy to Dh2.2 billion in the second quarter of the current year. As of the end of June, the company's project backlog was valued at Dh3.3 billion.\n\nNMDC Energy, which offers comprehensive solutions in engineering, procurement, pipe laying, project management, fabrication, installation, and commissioning, raised Dh3.22 billion from its initial public offering in 2024. The company reported a net profit of Dh251 million for the first half of the current year, with revenue reaching Dh9.5 billion. In 2023, CEO Ahmed Al Dhaheri highlighted NMDC Energy's ambition to bolster its partnership with Chinese entities and explore opportunities in Iraq, North Africa, and Nigeria as part of its global expansion strategy. The company has been targeting contracts for both offshore and onshore segments of the energy sector in Iraq, with a majority of the work expected to be offshore in Nigeria.",
  "summary": "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…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}