WHAT IS ADNOC IN-COUNTRY VALUE (ICV) CERTIFICATION?
From January 2018, the Abu Dhabi National Oil Company (ADNOC) has launched an In country Value program (ICV) with a view to diversify the UAE’s economy by localizing more goods and services, create more employment opportunities for the UAE nationals in the private sector and the localization of important functionalities in the field of oil and gas.
ADNOC program is the continuation of 2030 growth strategy which is defined as “creating more profitable and valuable business along with persistent supply of oil and gas”.
Focused Areas of ICV Program:
Calculation of ICV Score:
The ICV of an on entity is calculated by taking into consideration the economic value of the goods or services offered by the company. Following are consider as the main factors