The National Petroleum Construction Company (NPCC), part of the UAE’s Senaat, has signed memorandums of understanding (MoUs) with two leading entities in China’s energy sector at the 24th World Energy Congress in Abu Dhabi
NPCC has signed separate agreements with China Petroleum Engineering & Construction Corporation (CPECC), affiliated with China National Petroleum Corporation (CNPC), and China National Engineering Co Ltd (CNCEC) to explore collaborative opportunities in the offshore and offshore oil and gas sectors as well as other strategic areas of interest.
As per the agreement with CPECC, NPCC will explore potential opportunities to cooperate on projects that will create value for both companies, and will exchange information, data and insights, where relevant, for possible cooperation on future projects in the energy sector.
The agreement will enable both entities to facilitate discussions on future projects by leveraging the strengths of energy ecosystem and infrastructure building entities.
Through the MOU, the two parties will engage in full cooperation on potential projects for the Abu Dhabi National Oil Company (ADNOC) and explore opportunities for financing ADNOC projects in the MENA region. The opportunities for existing ADNOC projects will also be evaluated, the company stated.
Mohamed Rashed Al Hameli, chairman of NPCC, said, “The two agreements will further drive the global ambition of NPCC to become one of the largest providers of EPC solutions for the energy sector. It will enable us to expand our footprint in China, one of the largest growth markets for the energy sector.”
Liu Haijun, chairman and president of CPECC, added, “UAE is one of the fundamental countries to the ‘Belt and Road’ initiatives. Under the stream of deepening the bilateral economic development between UAE and China, ADNOC and CNPC have been working together in business expansions. Therefore, our alliance underpins win-win outcomes, which satisfies the needs of mutual developments, and also supports the direction of Sino-UAE partnership.
Nie Chuan, chairman of CNCEC Middle East, noted, “Through the MoU with NPCC, we aim to explore joint opportunities that will benefit both organisations, in addition to expanding our geographic footprint.”
