ADNOC In-Country Value (ICV)
ADNOC In-Country Value program is an acquirement drove activity which is intended to accomplish ideal incentive from ADNOC country’s oil and gas assets. The activity will convey in nation esteem by concentrating on three center regions: GDP enhancement through expanded use on neighborhood products and enterprises, Emiratisation and self-awareness open doors for UAE Nationals in the private division, The limitation of vital capacities for basic store network works in the oil and gas industry. To effectively execute ADNOC In-Country Value system, we will require the collaboration and support of ADNOC providers.
Abu Dhabi National Oil Company (ADNOC) have recently launched the In-Country Value (ICV) strategy, which aims to strengthen relationships with the UAE’s private sector. Businesses must now complete an ICV assessment as part of their partnership with ADNOC, which will form part of the tender evaluations and award process. Introduced in February 2018, the new strategy is procurement led and designed to increase ADNOC’s ICV contribution. In order to do this, they will be focusing on the selection of local suppliers, the development of UAE nationals and the localisation of critical functionalities in the oil and gas industry.
Implementation of ADNOC’s ICV strategy
ADNOC will undertake a series of strategic initiatives as the ICV strategy continues to develop. These will include: Strategic identification of suppliers and long-term collaboration, Developing of key procurement categories for small and medium sized local companies, Sharing future CAPEX and OPEX spending plans to encourage investment in the UAE, Focused training programs facilitated for Emiratis, increasing the employability of the local workforce