Kanoo Energy solidifies strategic manufacturing agreements with ADNOC
Kanoo Energy, a leading provider of industrial services in Bahrain and Saudi Arabia, has recently signed three significant agreements with the Abu Dhabi National Oil Company (ADNOC). The agreements focus on the manufacturing of valves, flanges, and the establishment of a reverse engineering facility in the United Arab Emirates (UAE). This collaboration aligns with the ‘Make it in the Emirates’ initiative and the ‘Abu Dhabi Industrial Strategy,’ emphasizing the companies’ commitment to local manufacturing and economic growth.
The specific products covered by these agreements are part of ADNOC’s extensive $19 billion procurement pipeline, earmarked for domestic manufacturing as part of its strategy announced in July 2022. By partnering with Kanoo Energy, ADNOC aims to bolster the manufacturing capabilities of valves, flanges, and reverse engineering in the UAE, supporting the country’s vision of becoming a global hub for innovation and manufacturing.
The signing ceremony took place at the recent ‘Make it in the Emirates Forum,’ organized by the Ministry of Industry and Advanced Technology (MoIAT) in collaboration with the Abu Dhabi Department of Economic Development and ADNOC. The forum aimed to showcase the UAE as a leading manufacturing and innovation destination while promoting sustainability and carbon emissions reduction within the industrial sector. These initiatives are in line with the UAE’s commitment to the ‘Year of Sustainability,’ the Net Zero by 2050 strategic initiative, and its preparations to host COP28.
The agreements were signed by Fahad Kanoo, CEO UAE & Oman, representing Kanoo Energy, and Dr. Saleh Al Hashimi, Adnoc Director of the Commercial and In-Country Value Directorate. Senior officials from Kanoo Energy, including Manoj Kumar Tripathy (CEO – Kanoo Industrial & Energy), Hesham Nass (Country Manager – UAE, The Kanoo Group), Raman Marwaha (General Manager – Kanoo Energy UAE & Oman), and Abdullatif Kanoo (Business Development Manager – The Kanoo Group), were also present at the signing ceremony, highlighting the importance of this partnership.
ADNOC’s commitment to local manufacturing and its In-Country Value (ICV) program has been evident in its previous agreements, which amounted to over $6.8 billion with both local and international companies. The company’s transparent approach to showcasing its product outlook is part of its ICV program, aimed at driving investments and promoting business continuity in the UAE. ADNOC’s ambitious goal is to inject $48 billion into the UAE economy through its ICV program, aligning with its five-year business plan for 2023-2027.
The strategic partnership between Kanoo Energy and ADNOC not only strengthens their collaboration but also contributes to the growth of the UAE’s manufacturing sector. With a focus on producing valves, flanges, and reverse engineering capabilities locally, this initiative supports the country’s vision of becoming a prominent player in the global manufacturing and innovation landscape
