Printed on
•Up to date
ADNOC has accepted a $150 billion (€130bn) capital spending plan for 2026 to 2030, as UAE President Sheikh Mohamed bin Zayed Al Nahyan chaired the corporate’s annual board assembly on the Habshan advanced in Abu Dhabi.
The assembly was held inside ADNOC Gasoline’ important operations management room, underscoring the strategic significance of Habshan, which provides round 60% of the UAE’s pure fuel to energy the nation’s vitality and industrial sectors.
Board members confirmed an additional enlargement of the UAE’s hydrocarbon shops, with oil reserves rising to 120 billion barrels and pure fuel reserves reaching 297 trillion cubic ft, reinforcing Abu Dhabi’s place as one of many world’s largest holders of oil and fuel assets.
ADNOC additionally introduced new oil and fuel discoveries totalling greater than 1.2 billion barrels of oil equal, supported by large-scale 3D seismic surveys and synthetic intelligence-powered information evaluation to unlock beforehand inaccessible reservoirs.
A brand new working firm, ADNOC Ghasha, was accepted to handle the Ghasha Concession growth, which is predicted to provide 1.8 billion cubic ft of fuel per day and 150,000 barrels per day of oil and condensates. Work on the Hail and Ghasha offshore mega-project is progressing as a part of the corporate’s wider fuel enlargement technique.
The board reviewed progress on creating Abu Dhabi’s unconventional assets, those who require superior extraction strategies. These are estimated at 160 trillion cubic ft of fuel and 22 billion barrels of oil.
ADNOC mentioned it plans to inject AED 220bn (€52bn) into the UAE economic system over the subsequent 5 years by its native worth programme, supporting home manufacturing and small and medium-sized enterprises according to the nation’s industrial diversification drive.
The corporate additionally highlighted the fast progress of XRG, its worldwide vitality funding arm, which has elevated in worth from $80bn (€70bn) to $151bn (€131bn) since its launch, positioning Abu Dhabi as a fast-growing international vitality investor.
Expertise was a central theme of the assembly, with ADNOC outlining its push to increase the usage of synthetic intelligence, robotics, and autonomous methods throughout its operations. The board assembly itself was supported by an inside AI software designed to reinforce decision-making and speed up strategic planning.
Progress was additionally reported on the TA’ZIZ chemical substances advanced in Al Ruwais, which is ready to grow to be one of many largest built-in chemical platforms within the Gulf, with manufacturing capability anticipated to achieve 4.7 million tonnes per 12 months and additional enlargement deliberate by 2028.
