ADNOC Hosts Business Forum in Collaboration with Abu Dhabi Chamber to Strengthen Collaboration with Private Sector

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Abu Dhabi, UAE – November 9, 2016: ADNOC, Abu Dhabi’s integrated oil and gas company, in conjunction with the Abu Dhabi Chamber, today hosted the ADNOC Private Sector Forum, as part of its efforts to strengthen its partnerships with suppliers and local businesses. 

H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO said: “Abu Dhabi’s private sector will play a fundamental role in helping deliver ADNOC’s 2030 strategy and five-year business plan. Together, we must develop a win-win partnership model that is performance based and that will maximize the economic impact from ADNOC’s growth plans. 

“The improvements we are introducing to our procurement will ensure it is easier for everyone to do business with us, by making the whole process faster and more efficient, while at the same time maximising value for ADNOC.” 

The forum was attended by over 600 of ADNOC’s SME, oil and gas, exploration and production, construction and infrastructure suppliers and partners. 

Held under the theme of “Strengthening Cooperation With Our Private Sector Partners”, the forum provided a platform for sharing ADNOC’s growth strategy and revised procurement policies and procedures which aim to strengthen the company’s private sector partnerships and support the growth of the Abu Dhabi economy.

H.E. Mohamed Thani Murshed Al Rumaithi, President of the Federation of UAE Chambers of Commerce and Industry and Chairman of the Abu Dhabi Chamber of Commerce and Industry stressed the importance of private sector companies partnering with ADNOC, which he described as one of the most important drivers for economic acceleration in the Emirate of Abu Dhabi and the UAE.

"At the Abu Dhabi Chamber, we view this forum as an excellent opportunity to introduce private sector companies and businesses to the projects and opportunities being offered by ADNOC, and to enhance the private sector’s contribution to the execution of services and developmental projects in Abu Dhabi,” he said.

A key component of ADNOC’s efforts to strengthen its relationship with the private sector is the Group’s overhauled procurement system, which will deliver a more efficient and effective process.

The new procurement policies will benefit vendors by providing a single entry for registration and prequalification for tenders. Repetitive tendering for the same goods and services has been be eliminated. In addition, ADNOC has standardised contract terms and conditions, streamlining the negotiation process, and simplified contract requirements. 

Along with a centralised commercial directory and transparent key performance indicators, these changes are part of the company’s strategic goal of ensuring fair competition among vendors.