ADNOC Awards AED65.7 Billion in Contracts to Boost UAE Economy and Create 17,000 Jobs

May 19, 2025
ADNOC Awards AED65.7 Billion in Contracts to Boost UAE Economy and Create 17,000 Jobs
  • ADNOC's In-Country Value (ICV) program is designed to prioritize local businesses, stimulate private-sector growth, and strengthen national supply chains.

  • Through its ICV program, ADNOC plans to invest an additional AED200 billion ($54.5 billion) into the UAE economy over the next five years.

  • Since its inception in 2018, the ICV program has created over 17,000 jobs for Emiratis, contributing to economic and industrial growth.

  • ADNOC's supplier evaluation process assesses technical capabilities, financial strength, and sustainability adherence, benefiting both large firms and SMEs.

  • In the first half of 2025, ADNOC awarded contracts totaling AED65.7 billion ($17.9 billion) to nearly 400 local suppliers, significantly boosting local economic growth.

  • ADNOC encourages all local businesses, including emerging entrepreneurs, to engage with its procurement pipeline for long-term economic benefits.

  • The Make it in the Emirates Forum is currently taking place at ADNEC in Abu Dhabi, showcasing ADNOC's commercial opportunities from May 19-22, 2025.

  • The awarded contracts span critical sectors such as drilling, logistics, operational support services, and engineering, procurement, and construction.

  • These contract awards come amid global energy market challenges, providing stability for local businesses and encouraging infrastructure and technology investments.

  • Private sector stakeholders view ADNOC's contracts as a boost to business confidence, prompting investments in technology and workforce expansion.

  • Overall, ADNOC's procurement strategy enhances operational efficiency and serves as a catalyst for the UAE's economic diversification and industrial sustainability.

  • ADNOC's policies promote skills transfer and capacity building within the UAE workforce, contributing to human capital development.

Summary based on 6 sources


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