Adnoc launches innovative programme

The Abu Dhabi National Oil Company (Adnoc) announced recently that it has successfully implemented an innovative initiative to drive efficiencies in its tendering process. This programme supports Adnoc’s ongoing efforts to enhance its approach to procurement and maximise value for Adnoc and its community of suppliers and service providers.

The programme standardises the terms and conditions for the procurement of drilling and oilfield goods and services across Adnoc’s entire value chain. As a result, all of Adnoc’s pre-qualified bidders are now subject to the same terms and conditions in competitive tendering, reducing the timeline for legal negotiations from months to weeks.

To deliver this first of its kind strategic initiative, Adnoc’s Legal Function, supported by its Upstream and Commercial & In-Country Value Directorates, developed global and oil and gas industry standard best practice terms and conditions for drilling and oilfield goods and services. This will support procurement of Adnoc’s entire value chain, sought feedback on commercial, risk and operational requirements from ADNOC’s pre-qualified community of goods and services providers and negotiated ADNOC’s standardised terms with the entire market.

Jasim M. Saeed, Senior Vice President, Group Procurement at Adnoc, said, “This initiative significantly speeds up ADNOC’s tendering process. The approach underscores our efforts to drive commerciality across our business and proactively respond to the demands of a fast-evolving energy. We are very pleased to have completed this initiative in a timely manner and we continue to work on identifying more win-win solutions for us and our contractors and suppliers to enhance value as we deliver our 2030 strategy.”

The programme strategically positions Adnoc as a global industry leader for best-in-class oilfield procurement. It also strengthens ADNOC’s relationships with its suppliers and contributes to more efficient operations, which ultimately maximises the value from every barrel it produces.