NMDC’s landmark endeavours

Yasser Zaghloul, group CEO of National Marine Dredging Group (NMDC Group), talks to The Energy Year about the company’s trajectory in the energy industry and the strategy underlying its growth objectives. NMDC is a publicly listed provider of marine services with a focus on dredging and reclamation works.

How would you characterise the current dynamics of the energy market in light of recent global events?
The energy landscape is navigating through pronounced shifts, predominantly influenced by disruptions from Covid-19 and geopolitical factors. As market stability seeks restoration, there’s an evident uptick in competition, with entities vying to regain lost ground. The procurement landscape has evolved too; while contracts were previously awarded based on proficiency, the emphasis has now shifted towards cost efficiency, elongating the bid-winning process.

Could you delineate NMDC’s pivotal milestones within the energy industry?
NMDC, conceived in 1976, began its journey catering to marine drilling needs within the UAE. Our global imprint commenced in 2009 with the Zakum project, a testament to our capabilities, wherein we crafted artificial islands amidst active oil extraction. This venture paved our path to helm the Suez Canal expansion and also spearheaded the inception of India’s inaugural LNG terminal. The strategic merger with NPCC in 2021 gave birth to NMDC Group. Today, our portfolio boasts diverse undertakings, from island construction for ADNOC to steering green initiatives, such as Taiwan’s offshore wind farm and a significant carbon capture project in Malaysia.

What strategic imperatives guide NMDC Group’s growth ambitions in the energy industry?
Our horizon set for 2030 envisions a tenfold augmentation in revenue streams. Anchored by robust market positioning and unwavering trust from our clientele, we’re primed for expansive endeavours. Innovations underpin our strategy, and we are integrating technological advancements like AI to fortify our leading position. Collaboratively with Technip Energies, our focus is sharpening towards renewable energy avenues.
Our approach emphasises forging alliances and bolstering both local and regional economic expansion. In collaboration with the Abu Dhabi Chamber of Commerce, we’ve initiated the “Let’s Grow Together” campaign, underscoring our commitment to uplifting the local business ecosystem and cultivating stronger ties among current enterprises to bolster our endeavours. Having engaged with over 500 firms in preliminary discussions, we’re keen on assisting them in meeting the stringent standards laid down by our Group and esteemed clients. We envision their collaboration in forthcoming ventures within the UAE and on the global stage.

To what do you attribute NMDC Group’s stature in this competitive sector?
NMDC Group’s respected position is a testament to our rich legacy of unwavering commitment to excellence and adaptability. Our historical project portfolio boasts a series of landmark endeavours that have shaped our industry standing. Over the years, we’ve secured projects totalling around USD 120 billion, underlining our consistent performance and growth. We’ve been privileged to receive steadfast support from the UAE governmental framework, which has been instrumental in building our sterling reputation. While we have fostered enduring partnerships within Abu Dhabi, our past endeavours have also seen us venture into international regions, including the Caspian Sea.

Read our latest insights on:

• Abu Dhabi
• India
• Malaysia
• UAE