Business Friday 23 October 2026
NMDC Energy secures $763m in new contracts from Saudi Aramco for offshore works
By Abu Dhabi Desk
NMDC Energy, a subsidiary of Abu Dhabi’s NMDC Group, has been awarded contracts worth Dh2.8 billion ($763 million) by Saudi Aramco. The deals cover engineering, procurement, and construction services for offshore projects.
Project timeline and backlog
Completion of the work is expected to take between 18 and 23 months, the company announced in a statement on Friday to the Abu Dhabi Securities Exchange (ADX), where its shares are listed. No further details were provided.
The new awards add to the Dh2.2 billion in projects NMDC Energy secured in the second quarter of 2026. As of the end of June, the company’s project backlog stood at Dh3.3 billion.
Company profile and financials
NMDC Energy, in which NMDC Group holds a majority stake, provides end-to-end solutions encompassing engineering, procurement, pipe laying, project management, fabrication, installation, and commissioning.
The company raised Dh3.22 billion from an initial public offering in 2024. For the first half of 2026, it reported a net profit of Dh251 million on revenue of Dh9.5 billion.
International expansion plans
Chief executive Ahmed Al Dhaheri told The National last year that NMDC Energy aimed to strengthen its collaboration with Chinese companies and was exploring opportunities in Iraq, North Africa, and Nigeria as part of its global growth strategy.
Al Dhaheri said the company was seeking contracts to serve both offshore and onshore segments of Iraq’s energy industry, while in Nigeria it was primarily targeting offshore projects.
