MUSSAFAH, Abu Dhabi -- National Petroleum Construction Co. (NPCC) has commissioned a study on how to enter new markets. NPCC is looking to expand its offshore engineering, procurement, and construction activities into the Caspian Sea region and West Africa.
Chairman Hussain Jessem Al Nuwais told Khaleej Times that the state-owned company increased its profit last year by 39%.
“More than 50% of NPCC’s revenues were earned outside Abu Dhabi,” he added, “from hydrocarbon projects in Saudi Arabia, India, and Qatar after tough competition with international firms.”
But NPCC is targeting a further 25% increase in revenues this year to Dh5 billion. This will entail expanding activities beyond the company’s traditional markets.
In the Caspian Sea area, NPCC will look to establish a base in Kazakhstan or Turkmenistan and to find local partners with experience in similar business.
As for West Africa, in particular Nigeria and Angola, a business consultant will advise NPCC on market penetration, potential business volumes, and these nation’s expansion plans in the hydrocarbon sector.
“The business plan will determine what capital expenditure would be needed and also the business model we need to adopt,” Al Nuwais said.