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ADNOC Awards Contracts Worth $3.6 Billion

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ADNOC Logo
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ADNOC Awards Contracts Worth $3.6 Billion

ADNOC Logo
ADNOC Logo

The Abu Dhabi National Oil Company (ADNOC) has awarded three contracts for the procurement of casing and tubing, whose combined scope is Dh13.2 billion ($3.6 Billion), one of the world's largest in this category.

The will maximize value for ADNOC across its drilling value chain and underpinning its strategy to deliver a more profitable upstream business.

The contracts – which were awarded to Consolidated Suppliers Establishment, representing Tenaris S.A. (from Luxembourg); Abu Dhabi Oilfield Services Company, representing Vallourec S.A. (from France); and Habshan Trading Company, representing Marubeni Corporation (from Japan) – have a combined scope of Dh13.2 billion ($3.6 billion) and the potential to achieve In-Country Value of over 50 per cent.

This includes more than Dh367 million ($100 million) in foreign direct investment, over the next five years, to establish a state-of-the-art oil country tubular goods (OCTG) threading plant and repair centre, and a training academy in Abu Dhabi to enhance local expertise and generate value for the UAE.

Under the terms of the contracts, the three companies will supply a combined total of 1 million metric tons of casing and tubing – which by comparison is equivalent to the distance from Abu Dhabi to Houston – over 5 years, to support ADNOC’s drilling activities.

The award marks the first in a series of drilling-related procurement expenditures with an overall value of Dh55 billion ($15 billion) that ADNOC plans to make in the next five years and is part of its Dh486 billion five-year capital expenditure (CAPEX) approved by Abu Dhabi’s Supreme Petroleum Council (SPC) in November 2018. The other procurement categories – excluding this award – are Downhole Completion Equipment, Wellheads, and X-Mas Trees, Liner Hangers, Drilling Fluids, Directional Drilling, Cementing, and Wireline Logging.

“The award of contracts with a combined scope that is one of the world’s largest for tubing and casing follows a highly competitive bid process. It underscores ADNOC’s optimisation efforts to drive commerciality across our growing portfolio,” said Abdulmunim Saif Al Kindy, ADNOC Upstream executive director.

“These agreements will provide ADNOC with increased flexibility to proactively respond to the demands of the evolving energy landscape as we ramp up our drilling activities and deliver our 2030 strategy,” he added

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Saudi Arabia Reviews Arbitration Law to Boost Commercial Competitiveness

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
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Saudi Arabia Reviews Arbitration Law to Boost Commercial Competitiveness

King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)
King Abdullah Financial Center in Riyadh (Asharq Al-Awsat)

In a move to strengthen its commercial environment and align with international best practices, Saudi Arabia’s Ministry of Commerce is undertaking a comprehensive review of the Kingdom’s current arbitration law.
According to information available to Asharq Al-Awsat, the initiative is part of broader legislative reforms aimed at enhancing legal certainty and investor confidence in Saudi Arabia’s business landscape.
Arbitration—an alternative dispute resolution mechanism where parties agree to settle disputes through neutral arbitrators rather than traditional courts—is commonly used in commercial and civil cases, excluding personal status matters.

According to sources familiar with the matter, the ministry is actively engaging with stakeholders from the private sector, including investors and entrepreneurs, to solicit feedback on the current arbitration framework. The goal is to identify key challenges and practical gaps, and to ensure that the updated legislation is responsive to real-world commercial needs.

The review covers a wide range of issues within the existing arbitration system. Among the ministry’s priorities is assessing whether the current legal text is sufficiently clear and whether it adequately defines key terms used in arbitration proceedings. Officials are also examining the scope of the law’s applicability, particularly in international disputes, and evaluating whether existing criteria for cross-border arbitration have posed implementation challenges.

The ministry is seeking insights on the clarity of mandatory versus supplementary legal provisions, judicial jurisdiction over nullification claims, and the effectiveness of procedural regulations. Feedback is also being collected on the legal capacity of corporate entities to enter into arbitration agreements, as well as the validity of arbitration clauses included in contracts or signed post-dispute.

Another area of focus is the process for determining and agreeing on arbitrators’ fees. The Ministry is exploring ways to streamline this process and address practical issues related to arbitrator challenges and disqualifications.
Established in 2014 by a Cabinet decision, the Saudi Center for Commercial Arbitration (SCCA) serves as the Kingdom’s primary institutional body for overseeing arbitration and mediation. It operates as a non-profit entity governed by recognized judicial and commercial principles.

The SCCA has reported a notable uptick in caseload: in 2024, the center registered 120 new cases—a 30 percent increase over the previous year. Arbitration cases alone surged 59 percent, rising from 46 to 73. The total value of disputes reached SAR 1.1 billion ($293 million), while the average time to resolve a case remained under six months.