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ADNOC Hosts 12 Business Partnership Majlises in the Lead-Up to Its 4th Annual Business Partnership Forum

Abu Dhabi, UAE – WEBWIRE

The Abu Dhabi National Oil Company (ADNOC) announced the completion of 12 business partnership majlises, held at the ADNOC HQ during the past two months. ADNOCís majlises were conducted to forge a deeper relationship between ADNOC and its private sector community, stimulating constructive supplier feedback around ADNOCís smart-procurement approach to partnership and the companyís In-Country Value (ICV) Program.†

The business partnership majlises were hosted by ADNOCís Business & Commercial Support Directorate and attended by more than 50 strategic suppliers from ADNOCís supplier network, including local and international companies. The discussions focused on expanding business opportunities, catalyziing the UAEís socio-economic development, improving the transfer of knowledge within the sector and creating additional skilled employment for UAE nationals.

Speaking at ADNOCís most recent majlis, ADNOCís Business & Commercial Support Director Rashed Saud Al Shamsi said: ďOver the course of the last three years, our Group Procurement function has implemented an innovative Group-wide transformation program to ensure we proactively respond to market dynamics, capture commercial opportunities and optimize our value chain as we deliver against our 2030 strategy. Large and small, local and global Ė our suppliers have been and always will be central to this effort. The in-depth and constructive dialogue at ADNOCís business partnership majlises helps to ensure we collectively nurture robust partnerships over the long term.

ďADNOC will continue to rely on the commitment and innovation of its supplier community to ensure we deliver against our 486-billion-dirham capital expenditure plan and continue to drive real and tangible In-Country Value for our nation Ė not only over the next five years, but for decades to come. The hiring of more than 1,000 UAE nationals into the private sector Ė in 2018 alone Ė is a firm demonstration of our collective commitment to driving In-Country Value.Ē he continued.

During the majlises, a key topic of choice among suppliers was ADNOCís ICV Program, in which more than 2,000 suppliers are certified. Attendees celebrated the success and achievements of the ICV Program, which serves as the primary enabler of ADNOCís Ė and suppliersí Ė contributions to the UAEís socio-economic growth and development. In the ICV Programís first year (2018), ADNOC enabled the private sector to hire more than 1,000 Emiratis and drive more than AED 18 billion back into the UAE economy.†

New ICV facts, figures and updates will be dislosed at ADNOCís 4th annual Business Partnership Forum, held annually at ADIPEC.


ADNOC is one of the worldís leading diversified energy and petrochemicals groups with a daily output of about 3 million barrels of oil and 10.5 billion cubic feet of natural gas. With 14 specialist subsidiary and joint venture companies, ADNOC is a primary catalyst for the UAEís growth and diversification.

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