ADNOC is the 12th largest oil producer in the world, that produces 3.1 million barrels per day. The company plans to grow its oil production capacity by almost 70% by 2030, which will be made possible via the increased use of digitalisation and artificial intelligence in its functioning.
ADNOC is striving hard to achieve the objectives of its 2030 strategy and deliver the greatest possible return to Abu Dhabi. 2030 strategy aims to transform the business of the company, by maximizing value from every barrel and to create;
- More profitable upstream
- More profitable downstream
- More sustainable and economic gas supply
The strategy is enabled by technology, partnerships and people and is in alignment with the long-term vision and plans of the UAE.
ADNOC’s agility and adaptability are its key characteristics, that constantly pushes the company to seek new ways to evolve. Since the year 1971, ADNOC has created thousands of jobs and has played a significant role in the global emergence of Abu Dhabi.
ADNOC develops both onshore and offshore gas fields and has 16 subsidiary companies in upstream, midstream and downstream stages of production. The company operates oil refineries in Ruwais and Umm Al Nar and exports natural gas in the form of liquefied natural gas. This is in addition to producing supplies for local electricity and water utilities, domestic industries, and for re-injection into reservoirs.
ADNOC is on the path to further expansion through strategic relationships with leading international firms. Recently, the company won $5.8 billion investment from Italy’s Eni and Austria’s OMV for a stake in its refining business to establish a new trading operation owned by the three partners.
ADNOC also sealed a $4 billion midstream pipeline infrastructure deal with U.S. investment firms KKR and BlackRock, previous year.
ADNOC is one of the most valuable brands in the Middle East that contributes significantly to the economy of UAE.