The Abu Dhabi National Oil Company (ADNOC) has announced their innovative implementation to drive efficiencies in their tender process. The program is believed to support ADNOC in its ongoing efforts to enhance its approach for procurement and to maximize ADNOC’s and its community of suppliers and service providers’ value.
Terms and conditions for procurement of drilling and oilfield goods and services in the ADNOC’s entire value chain has been standardized through the new program. The existing bidders of ADNOC are also subjected to new terms and conditions in competitive tendering and the timeline for legal negotiations has been reduced from months to weeks.
Senior Vice President, Group Procurement at ADNOC, Jasim M. Saeed, 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 introduction of the new program is bound to create a strong relationship between the suppliers and contributors of ADNOC and will also help them in being the global leader in oilfield procurement.
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