Sunday 27 September 2020

NPCC signs oil & gas tie-ups with two Chinese firms
Image courtesy: WAM

NPCC signs oil & gas tie-ups with two Chinese groups

ABU DHABI, September 10, 2019

The National Petroleum Construction Company (NPCC), a part of the UAE’s Senaat, has signed agreements with two leading Chinese groups to explore joint collaborative opportunities in both onshore and offshore oil and gas sectors, as well as other strategic areas of interest.

NPCC signed separate memorandums of understandings (MoUs) at the ongoing 24th World Energy Congress in Abu Dhabi, UAE with the China Petroleum Engineering & Construction Corporation (CPECC), affiliated to the China National Petroleum Corporation (CNPC) as well as the China National Chemical Engineering Company (CNCEC), reported state news agency Wam.

In the presence of Dr Mohamed Rashed Al Hameli, chairman of the NPCC and Zhou Chunlin, Economic and Commercial Counsellor-China, the MoUs were signed by Ahmed Al Dhaheri, CEO of the NPCC, with Liu Haijun, chairman and president of the CPECC, and attended by Jiang Minjun, executive director of CNPC International - Abu Dhabi; Yang Shibang, vice president – China Petroleum Engineering Co. Limited; and Qi Jianhua- VP-CPECC; and with Yi Bingyin, vice general manager of CC-7, and attended by Nie Chuan, chairman of the CNCEC Middle East.

As per the agreement with the CPECC, the NPCC will explore potential opportunities to cooperate on projects that will create value for both companies and exchange information, data and insights, where relevant, for possible cooperation on future projects in the energy sector.

Through the MoU with the CNCEC, the two parties will conduct all-round cooperation on potential projects for the Abu Dhabi National Oil Company (Adnoc) and will explore opportunities for financing services on Adnoc projects in the Mena region.

Dr Al Hameli said: "We have proven competencies in undertaking complex fabrication and manufacturing for onshore and offshore projects, which will add value to any potential partnership with the CPECC and the CNCEC. It will also enable us to expand our footprint in China, one of the largest growth markets for the energy sector."

Al Dhaheri noted: "All the entities can benefit from the partnership, which will potentially help expand our business footprint and showcase our strengths to Chinese energy sector stakeholders."

"The UAE is one of the fundamental countries in the ‘Belt and Road’ initiative. Under the stream of deepening the bilateral economic development between the UAE and China, Adnoc and the CNPC have been working together on business expansion. Therefore, our alliance underpins win-win outcomes, which satisfy mutual development needs, and support the direction of the Sino-UAE partnership,” Haijun said.

"Through the MoU with the NPCC, one of the region’s largest EPC players, we aim to explore joint opportunities that will benefit both organisations, in addition to expanding our geographic footprint," Chuan said.



More Energy, Oil & Gas Stories

calendarCalendar of Events