Abu Dhabi, UAESunday 18 August 2019

Adnoc expands in-country value programme by doubling certifying bodies

Initiative was launched last year to help increase in-country spending on goods and services

Only a year ago during the same conference, Adnoc announced the formation of its own trading unit to further maximise value from its production. Adnoc is now hiring traders. EPA
Only a year ago during the same conference, Adnoc announced the formation of its own trading unit to further maximise value from its production. Adnoc is now hiring traders. EPA

Abu Dhabi National Oil Company expanded its in-country value programme, aimed at increasing spending on goods and services in the UAE, by doubling the number of bodies certifying the performance of suppliers to the oil company.

Adnoc added six third-party certifying bodies “who will be responsible for verifying and measuring suppliers’ [in-country value],” the company said in a statement on Monday. More than 2,000 suppliers have already obtained in-country value certification, it said.

“The launch of Adnoc’s In-Country Programme was a critical step in catalysing our nation’s progress and development,” Rashed Al Shamsi, business and commercial support director at Adnoc said. “We’re pleased with the constructive and positive feedback we’ve received from our partners and suppliers this past year, and we look forward to driving even more in-country value in the years ahead.”

Adnoc started its in-country value programme last year with an expenditure of Dh18 billion as part of efforts to ensure that local suppliers and companies are engaged across its value chain to boost the local economy.

Regional oil companies, including Saudi Aramco, are undertaking such programmes to help create local jobs and boost private sector growth

“Adnoc is now expanding the programme to meet increasing interest among suppliers – not only in the UAE, but around the world – as the company continues to deliver on its most recent procurement forecast … which outlined the increasing volume and range of new business opportunities being tendered across the group,” it said on Monday.

Updated: April 1, 2019 04:48 PM

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