Oil & Gas NMDC Group buys 70% stake in oilfield services company By Pramod Kumar June 4, 2025, 9:14 AM Wam NMDC Group's acquisition of Emdad will allow it to expand into the oilfield management segment in the UAE Abu Dhabi-listed NMDC Group said its newly-launched subsidiary has acquired a majority stake in Emdad, a local oilfield services company. The acquisition enables NMDC LTS, a wholly owned technical services company, to expand into the oilfield management segment in the UAE, the company said in a statement. No financial details of the deal were given. Emdad reported revenues of over AED600 million ($163 million) in 2024. NMDC LTS, launched in December 2024, serves regional construction logistics and technical services operators. In February, the NMDC Group said revenues surged 57 percent year-over-year to AED26 billion in 2024. NMDC Group to pay $191m dividend as revenue rises UAE’s NMDC Energy bags $1.1bn projects in Taiwan NMDC oversubscribed 31 times as it lists on Abu Dhabi exchange Net profit climbed 44 percent year on year to AED3 billion last year, underpinned by expansions into East and Southeast Asia and the award of a large-scale contract for a subsea pipeline in Taiwan. In the same month, NMDC Energy, a subsidiary that trades on the Abu Dhabi stock exchange, announced plans to expand its renewable energy business in Southeast Asia and Europe. The company’s stock closed nearly 1 percent lower at AED26.1 on Tuesday. The group is backed by Alpha Dhabi Holding, the investment subsidiary of Abu Dhabi-headquartered International Holding Company. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
