ADNOC rolls out amendments to ICV | KPMG | AE
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ADNOC rolls out amendments to ICV

ADNOC rolls out amendments to ICV

Amendments to ADNOC's In-Country Value (ICV) program, aligned with their 2030 growth strategy.

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Partner and Head of Energy & Natural Resources

KPMG Lower Gulf Limited

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Following the announcement in November 2017, ADNOC officially launched the In-Country Value (ICV) program in Q1 2018. The oil and gas giant integrated ICV criteria into the company’s commercial evaluation process, with the aim of nurturing local and international partnerships and opportunities, improving knowledge transfer and creating job opportunities for UAE nationals.


Subsequent to the initial launch, ADNOC has now amended the program as of 1 November 2018. Changes to the program were informed by a survey shared with ADNOC tier one (direct suppliers) and other suppliers. Nizar Jichi, Head of Energy & Natural Resources – KPMG Lower Gulf, shares detailed modifications in the article below.

Highlights include:

  • Key modifications to ADNOC’s ICV program
  • Feedback from suppliers of the initial program implementation 
  • The positive impact that the ICV has had on suppliers in 2017/18

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