NMDC Energy’s order book reaches AED 33.3 billion after second-quarter project awards
Key Facts
NMDC Energy, listed in Abu Dhabi, had an order book of AED 33.3 billion at the end of June 2026 after announcing second-quarter project awards worth AED 2.2 billion. The company said the projects lifted its order book to the level recorded at the end of the first half. Reports circulated that Saudi Aramco had awarded the company contracts worth $763 million, but the page carrying the figure was unavailable, and no accessible official disclosure confirmed the contracts’ value or scope. The deal details and execution period therefore cannot be established from the information available. The order book and first-half results come against the backdrop of the company’s long-term services agreement with Aramco.
The company’s figures show net profit of AED 251 million in the first half of 2026. Revenue for the period was split between domestic operations, which contributed 70%, and international projects, which accounted for 30%. These figures provide context for the company’s performance during the same period in which its order book stood at AED 33.3 billion. The company said projects awarded in the second quarter were worth AED 2.2 billion, linking them to the order book’s rise to its end-June level. The data do not independently confirm that the reported Aramco contract was part of those awards.
NMDC Energy’s relationship with Aramco dates back to a long-term agreement that the company said was extended in April 2025 for 3 years, with an option for an additional 3-year extension. The company said the previous agreement was signed in 2016 and that it had since participated in multiple projects with the Saudi oil company. Services covered by the agreement include detailed engineering, materials procurement, fabrication, transportation, installation and pre-commissioning work for offshore facilities in Saudi Arabia’s territorial waters. This scope describes the existing cooperation between the two parties on offshore work, but does not establish that the reported contracts worth $763 million were awarded under it. The execution period attributed to those contracts could not be verified.
Chief Executive Ahmed Al Dhaheri said the long-term agreement with Aramco offered potential for growth, diversification and transformation, adding that the company looked forward to working with its Saudi partners on procurement and the employment of Saudis. The statement places the agreement within the company’s efforts to expand local cooperation in the Saudi market, alongside the offshore services specified in the agreement. In April 2026, NMDC Energy said its project pipeline stood at AED 67 billion at the end of the first quarter, and that it was monitoring regional developments and aiming to continue work through the rest of the year. The company’s news page lists announcements through July 2026, including its first-half results, but does not show an announcement of Aramco contracts worth $763 million.