Saturday, September 18, 2021

Técnicas Reunidas signs a framework agreement to bid for $1 billion worth of engineering projects in Abu Dhabi

The Abu Dhabi National Oil Company (ADNOC) has selected Técnicas Reunidas to sign a framework agreement for the Spanish company to compete for contracts worth a total of around 1 billion dollars (around 850 million euros).

These contracts are related to the development of conceptual engineering and advanced engineering services (FEED) necessary for the implementation of various projects that the Arab company, one of the largest in the world in its sector, considers essential throughout its value chain to achieve the fulfilment of its Strategy 2030.

ADNOC has underlined that the criteria applied for the selection of the bids were the establishment of an optimal schedule for the execution of the works, the assumption of competitive costs, the approach of long-term contracts and the application of a management process that provides high visibility of the contractor’s performance.

Técnicas Reunidas will participate in these projects through a joint venture with its local partner, the National Petroleum Construction Company (NPCC), and competing with seven other leading international engineering companies.

The other international firms competing for the contracts are AMEC International (Wood Group), Fluor, McDermott, Mott MacDonald, SNC-Lavalin International Arabia Limited (Kentech Group), Technip Energies and Worley.

Abdelmuneim Seïf Al Kindy, ADNOC’s Executive Director of People, Technology and Corporate Support, said: “We are very pleased to engage with the eight major contractors who have been selected to provide world-class engineering expertise on our strategic projects across our value chain”.

In turn, Arturo Crossley, Chief Commercial Officer of Técnicas Reunidas, underlined that “the signing of this framework agreement is a positive recognition of our company’s competitive level and its ability to establish reliable and long-term relationships with the main clients in the region”.

The framework agreement signed by the Spanish company will run from 2021-2026, with an option to extend for a further two years.

About Técnicas Reunidas

The Spanish company Técnicas Reunidas is one of the most important companies in its sector on an international scale, with a presence in 25 countries and a track record that totals more than 1,000 industrial plants over its 60 years of experience.

Its business is mainly focused on engineering projects, the development of industrial plants for the production of clean fuels and petrochemical products, the production and processing of natural gas, and the promotion of advanced low-carbon technologies, such as green hydrogen, CO2 sequestration and capture, biofuels, waste recovery, etc.

It has more than 7,500 employees, most of whom are highly qualified engineers, and its revenues reached €3.5 billion in 2020.

About ADNOC

ADNOC is a leading diversified energy and petrochemicals group wholly owned by the Emirate of Abu Dhabi. ADNOC’s objective is to maximize the value of the Emirate’s vast hydrocarbon reserves through responsible and sustainable exploration and production to support the United Arab Emirates’ economic growth and diversification.

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