NPCC Reports Strong Financial Results
Published Date : 31, Mar 2019
H.E. Dr Mohamed Rashed Al Hameli, Chairman of the National Petroleum Construction Company (NPCC) - a subsidiary of SENAAT Abu Dhabi - said that: “NPCC has had an excellent year in a highly competitive market and has increased its revenue by 7%, from AED 4.9 Billion to AED 5.3 Billion. NPCC’s excellent project management has led to 27% increase in operating profit, from AED 700 million to AED 891 million. These financial results are a reflection of the company’s efforts to optimize all operations and maximize its commercial outreach.”
Dr Al Hameli also “thanked NPCC’s Ex-Chairman, H.E. Hussain Al Nowais, for raising NPCC’s performance under his leadership, and said that the new board will continue to guide the company towards new heights and further contributions to the industry and local economy.”
Eng. Ahmed Al Dhaheri, CEO of NPCC, said: “NPCC continues to support the development of the Oil and Gas industry in the Gulf region. To date, NPCC has executed over 1190 EPC projects, laid over 6199 kilometers of pipelines and 1374 of subsea cables, and built & installed over 1360 structures. All our projects were executed to world class standards using approximately 1 Million tons of steel.
NPCC is a regional leader amongst EPC companies. We are proud to have the largest offshore fleet comprising of 22 vessels, and the largest Fabrication Yard which extends over 1.3 Million sq/meters and offers manufacturing capacity estimated with 19.2 Million man hours.
We are exceptionally proud of our human capital which enjoys unique and diverse group of talented professionals including over 1400 engineers who are strategically located in 4 international centers to offer our clients 3.2 Million man hours of design and engineering services.
NPCC is committed to the development of local talents and increasing the number of UAE nationals within the company. Currently, 40% of the company’s senior management positions are led by Emiratis with future plans to increase the total number of Emiratis from 300 to 430 by 2021.”
NPCC is part of an Offshore Long Term Agreement (LTA) with Saudi Aramco, signed in 2016, and so far has won 10 projects worth AED 7.3 Billion.