Abu Dhabi National Oil Company (Adnoc) has appointed Netherlands-headquartered KPMG and five other firms to help execute its In-Country Value (ICV) policy requirements.
Adnoc last month announced plans to engage more with local engineering contractors and suppliers as part of the operational excellence goals of its Vision 2030 strategy.
Adnoc has been hosting workshops with suppliers to introduce them to the company’s ICV guidelines and policies, and explain how suppliers’ ICV contributions will be certified.
KPMG is one of the selected firms that will assist Adnoc in this task by verifying the ICV performance of suppliers.
The criteria will assess suppliers’ ICV contribution, including goods and services sourced locally, employment and development opportunities for local UAE nationals, in-country spend of subcontractors, supplier’s investment in the UAE, and expat contribution.
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