NMDC LTS to acquire 70% equity stake in Emdad

NMDC LTS, a wholly owned subsidiary of NMDC Group, has announced the signing of a definitive agreement to acquire a 70% stake of the share capital and voting rights in Emdad, an integrated service provider specialising in the oil and gas, utilities, and industrial sectors.

This strategic acquisition, which is subject to regulatory approvals, will enable NMDC Group to expand into oilfield services, further diversifying its portfolio and strengthening its competitive advantage, the company said in a statement. The acquisition enables NMDC Group to provide a broader range of services, including operations and maintenance, complementing its existing expertise in engineering, procurement, construction and installation services.

Scaling up and diversifying

Leveraging its established partnerships with ADNOC and Aramco, NMDC plans to scale its operations while diversifying its service offerings, the company said. These efforts align with NMDC’s strategy to drive value creation, strengthen its regional presence, and support revenue growth. The acquisition also capitalises on the favorable market conditions within the regional oil and gas sector, it said.

It follows the successful listing of NMDC Energy PJSC on Abu Dhabi Securities Exchange (ADX), which garnered significant interest with an IPO oversubscribed 31.3 times. This milestone highlights NMDC Group’s credibility, strategic execution, and strong market position.

“NMDC LTS acquisition of a controlling interest in Emdad marks a pivotal step in our journey to redefine excellence in the energy sector. This strategic move underscores our commitment to the UAE’s vision of a resilient and future-ready energy industry, while strengthening our role as a trusted partner in the region’s dynamic market,” said Eng. Yasser Zaghloul, CEO of NMDC Group.

“By integrating Emdad’s proven expertise with NMDC, in particular its scale and innovation, we are creating a powerful platform to deliver greater value, broaden our service capabilities, and drive sustainable growth for our clients, partners, and stakeholders. Together, we are shaping a more diversified and resilient future for the energy sector,” he added.

Emdad has consistently demonstrated strong revenue growth and maintained a solid balance sheet, underpinned by diversified revenue streams spanning upstream well services and downstream maintenance activities.

Mohammed Juma Al Bawardi, CEO of Emdad, said: “We are excited to embark on the next phase of Emdad’s journey with NMDC Group. Since inception in 1979, Emdad has established its position as a leading energy services provider in the UAE. We are confident that through the compelling partnership with NMDC Group, we can deliver even more value to our customers and achieve our mutual goals for growth and success.”

Emdad’s operations are further strengthened by its subsidiaries, which provide specialised services in areas such as well construction, plant maintenance, catalyst handling, and facility management. Key divisions include Emjel, specialising in coiled tubing and cementing; Emdad Services, focused on operational maintenance; and IGC, which handles civil and electrical facility management.

The acquisition marks a leap in NMDC Group’s broader expansion and diversification goals, paving the way for future innovation and leadership in the energy sector, the company said.