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Adnoc writes new

Abu Dhabi National Oil Company (Adnoc), the UAE’s national oil company, has been very consistent in following through with its 2030 growth strategy, which it unveiled in 2018.

Part of the efforts in the past two years have been signing strategic partnerships with energy companies around the world that will lead to converting the company into a comprehensive conglomerate.

Much emphasis is on transformation and delivery, value creation plans, and greater downstream investment, in addition to an integrated gas strategy–part of Abu Dhabi’s move towards energy self-sustainability.

Adnoc’s endeavours are key to the UAE’s goal of raising its oil production capacity to 4 million barrels per day (mpbpd) by 2020 and 5 mbpd by 2030.

Its expansion and new investment in downstream is powered by a $45 billion investment, and plans to create a more flexible, resilient and diverse energy business, optimising its performance and stretching the dollar from every barrel of oil it produces.

At its key second investor forum last year, Dr Sultan Ahmed Al Jaber, UAE Minister of State and Adnoc Group CEO, made it clear: “Over the last two years, we have developed a substantial pipeline of attractive and innovative partnership and co-investment opportunities, covering both equity and debt, and including opportunities in our infrastructure portfolio, service and support businesses.”

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