ADNOC In-Country Value (ICV) Certification
Abu Dhabi National Oil Company (ADNOC) have recently launched the In-Country Value (ICV) strategy, which aims to strengthen relationships with the UAE’s private sector. Businesses must now complete an ICV assessment as part of their partnership with ADNOC, which will form part of the tender evaluations and award process.
Introduced in February 2018, the new strategy is procurement led and designed to increase ADNOC’s ICV contribution. In order to do this, they will be focusing on the selection of local suppliers, the development of UAE nationals and the localisation of critical functionalities in the oil and gas industry.
ADNOC will undertake a series of strategic initiatives as the ICV strategy continues to develop. These will include:
- Strategic identification of suppliers and long-term collaboration
- Developing of key procurement categories for small and medium sized local companies
- Sharing future CAPEX and OPEX spending plans to encourage investment in the UAE
- Focused training programs facilitated for Emiratis, increasing the employability of the local workforce
Penspen welcomes the implementation of ADNOC’s ICV strategy and the value it will bring to the UAE oil and gas industry, as well as to the country.
Through our Abu Dhabi office, we have provided onshore and offshore engineering and project management services to the UAE oil and gas industry for over 40 years. We have successfully completed more than 250 projects during this time.
We have helped our clients to develop new energy assets and rehabilitate existing brownfield assets through customised engineering solutions. As a multi-discipline company, we combine quality and technical excellence with agility, providing the full range of services over the complete lifecycle of a project.
With an engineering workforce of over 200 personnel based in our Abu Dhabi offices, we offer detailed engineering and project management services. Our areas of expertise include conceptual and feasibility studies, basic and FEED, detailed design, operability and risk assessment. We also provide project management and procurement services, as well as engineering support to EPC contractors.