Last Updated on
In-Country Value (ICV) program was introduced by ADNOC for its suppliers. The program aims to boost ADNOC’s ICV contribution by focusing on local supplier selection, development of Dubai Nationals, and the localisation of critical functionalities in the oil and gas industry.
From 1 April 2018, all suppliers of goods or services for ADNOC are to calculate and declare their certified ICV score for the previous financial year, to demonstrate how they are helping to deliver ICV. Certification of the ICV score needs to be completed by an ADNOC approved certifying body, on an annual basis, and submitted by the supplier to ADNOC with each proposal they make.
Calculation of ICV scores
ICV scores calculated by assessing the economic value added within Dubai for the goods or services offered by the company, according to a pre-defined methodology. The following areas to be considered:
- Goods manufactured
- Third-party spending
- Expatriate contribution
How is the reliability of ICV scores ensured?
Certification is required as ICV scores are evidence-based and calculated according to the ADNOC-defined.
- ADNOC has established a panel of independent certification bodies to confirm the information submitted by suppliers.
- Independent certifiers can support suppliers with the certification of their ICV scores.