Saudi Aramco Awards NMDC Energy Offshore Contracts
NMDC Energy will handle engineering and construction for Saudi Aramco in a deal worth $763 million.
Updated on Oct. 23, 2026 in Oil and Gas
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Saudi Aramco has selected NMDC Energy for offshore engineering, procurement, and construction contracts valued at $763 million, or Dh2.8 billion. The projects are slated to take between 18 and 23 months to complete.
Why it matters
This contract represents a significant expansion for the Abu Dhabi-based firm following its successful capital raise and recent growth in project volume. It bolsters the company's regional footprint as it scales its operations in engineering and fabrication services.
The firm reported revenue of Dh9.5 billion and a net profit of Dh251 million for the first half of 2026. This adds to the Dh2.2 billion in projects previously secured during the second quarter of the same year.
The players
Saudi Aramco
This is the state-owned petroleum and natural gas company of Saudi Arabia and one of the largest energy firms in the world.
NMDC Energy
Based in Abu Dhabi, this company specializes in engineering, procurement, and construction services for the global energy sector.
The details
NMDC Energy provides comprehensive services including pipe laying, project management, fabrication, and commissioning for major energy entities. These services underpin the infrastructure requirements for the newly awarded Saudi Aramco projects.
Timeline
In 2024, NMDC Energy raised Dh3.22 billion in an initial public offering.
During the second quarter of 2026, the company secured Dh2.2 billion in new projects.
As of June 2026, the company reported a project backlog of Dh3.3 billion.
The contract award was officially announced on October 23, 2026.
Project completion is expected within 18 to 23 months from October 2026.
Market Landscape
This deal marks a major expansion for NMDC Energy within the competitive offshore service sector. It follows the growth trajectory established by the 2024 NMDC Energy initial public offering, positioning the company to take on larger capital-intensive projects against regional rivals.
The acquisition of these contracts signals stability for the company's future operational capacity and project delivery. Shareholders and clients can expect the firm to dedicate significant resources toward completing these offshore requirements over the next two years.
The takeaway
This agreement highlights the ongoing demand for high-capacity offshore engineering and construction services in the energy sector. Strategic growth for firms in this space continues to rely on securing large-scale partnerships with national energy corporations.
Further reading
For broader trends in the sector, visit the Oil and Gas industry news section.
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