Abu Dhabi, November 13 (WAM) – Engineer Aqeel Madi, vice president of the National Oil and Gas Construction Company, said the company has achieved positive results over the past year.
At a press conference held at ADIPEC Abu Dhabi 2018, Madi pointed out that the company's net profit increased 57% last year compared to the previous year, while at the same time achieving good and stable profitability in recent years and the increase in the financial performance index positive and clear The confidence of major customers in the oil and gas industry in the Gulf and India.
Ahmed Salem Al Dhaheri, CEO of the company, said the company's revenue reached 5.7 billion AED at the end of last year, an exceptional increase of 21% compared to 4.7 billion AED in the previous year.
He has highlighted the qualitative leaps over the past ten years in the operational and financial field, underlining that the company's financial statements indicate that the company's net total revenue over the past ten years has reached about 48 billion dirhams.
He added that the company's performance during the current year was satisfactory and the financial indicators show remarkable progress at all levels. He pointed out that the company's revenues rose to about AED 7.4 billion, a 30% increase over last year.
He pointed out that 80% of the company's revenue comes from contracts outside the country, reflecting the position it has reached after investing some 4 billion dirhams in various assets to increase its operations.
The English engineer Ahmed Salem Al Dhaheri said the National Petroleum Construction Company is aiming to be a leading company in the field of engineering, procurement, construction and equipment in the petroleum and petroleum industry, underlining the fact that the company aims to enter new sectors indicating the capacity adapting to the requirements of the renewable market and expanding its activities in the oil sector to include the petrochemical sector, petroleum derivatives and refining at an advanced stage and to increase its presence and services in the field of oil by increasing the targeted services to land by 20% instead of 10% today, Marine 80% of the activity instead of 90% at present.
He stressed that the company is trying to enter new markets represented in East Asia and North Africa and to strengthen its presence in India and the Gulf market as well as the local market.
He confirmed that Abu Dhabi's national oil company (ADNOC) is a key partner in the Petroleum Construction Company. He pointed out that 20% of the company's revenue comes from local contracts through ADNOC and its companies.
Engineer Ahmed Salem Al Dhaheri said the company signed a Strategic Partnership Agreement with Saudi Arabia in 2016 for a six-year period with four other international companies operating in the same field. Assembly, cables and all the installations and equipment required by the current production plans of the Saudi Aramco sunken fields.
He noted that the company won a contract worth 850 million dirhams on the Kuwait market, which is an indicator of increasing confidence in it and stressed that innovation will be the focus of the development process in which the company launched a program to encourage employee innovation to improve the company's performance and services in the next phase.
He Ahmed Salem Al Dhaheri explained that the company has achieved a savings of approximately 210 million dirhams, equivalent to $ 57 million, as well as its interest in locating jobs where the company currently offers jobs for 308 citizens with better benefits from companies and other institutions in the same field In addition to the benefits of scholarships and training abroad on new technology in the business sector. He pointed out that the company did more than 1190 projects in addition to various other initiatives.