Abu Dhabi – Mubasher: National Petroleum Construction Company (NPCC), a subsidiary of National Marine Dredging Company (NMDC) was awarded a $520 million project contract from Saudi Arabian Oil Company (Aramco).

The agreement aligns with the Saudi oil giant’s contracts release and purchase order (CRPO) system, according to a bourse filing.

Meanwhile, the scope of the project includes the replacement of the offshore subsea trunk line for a total approximate length of 67 kilometres (km).

In the first nine months (9M) of 2023, the net profits attributable to the owners of NMDC hiked to AED 1.51 billion from AED 703.05 million in 9M-22.

Aramco recorded net profits after Zakat and tax valued at SAR 354.54 billion in January-September 2023, down 27.46% year-on-year (YoY) from SAR 488.78 billion.