UAE’s Abu Dhabi National Oil Company (ADNOC) has signed a strategic agreement with Tubacex through which it has secured exclusive rights to use the Spanish company’s tubular joint connection technology, seen as “critical for completing oil & gas wells” .
The companies have signed a strategic agreement granting ADNOC the exclusive license to use Tubacex’s Sentinel Prime tubular connection technology for non-corrosion-resistant alloy (non-CRA) materials applications within UAE.
The agreement is said to have the goal of enhancing ADNOC’s well completion operations, reducing dependency on external suppliers, and promoting high-value industrial investment.
Held today, May 19, the formal signing ceremony represents the official execution of the agreement announced in March, valued at $50 million. The signatories were Musabbeh Al Kaabi, CEO of ADNOC Upstream, and Josu Imaz, CEO of Tubacex Group.
“This licensing agreement provides ADNOC with access to a critical technology for oil and gas well completions, reinforcing our resilience and boosting domestic manufacturing. Tubacex’s investment in Abu Dhabi aligns with our vision to advance local capabilities and accelerate industrial growth through the Make it in the Emirates program,” Al Kaabi said.
Tubacex will establish a dedicated research and development (R&D) center in Abu Dhabi, which will act as a hub for advanced engineering and train highly skilled technicians in-country.
“The formalization of this licensing agreement reflects our commitment to global collaboration and innovation. ADNOC’s adoption of Sentinel® Prime underscores the quality and performance of our solutions and our long-term strategic alignment with key players in the energy sector,” Imaz said.
ADNOC also reported today that it had decided to move forward with a phased development plan to expand the giant Upper Zakum offshore oil field , increasing output through new technologies while curbing greenhouse gas (GHG) emissions to ensure more sustainable operations.