Completion of 73% of the "Project to Enhance Flexibility of Crude Oil Refining Operations"
ADNOC is investing 12.8 billion dirhams to develop Ruwais' refining capacity
The project allows ADNOC to process upper Zakum crude extracted from the offshore oil fields in Abu Dhabi. From the source
Sultan Al-Jaber: "We continue to focus on increasing the profit margin, and achieving the maximum possible value from every barrel of oil produced."
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The Abu Dhabi National Oil Company (ADNOC) confirmed the acceleration of industrial growth in Ruwais with the completion of more than 70% of the "project to enhance the flexibility of crude oil refining operations".
She stated that the project, at a cost of 12.8 billion dirhams, is a key driver in implementing the ADNOC 2030 strategy for smart growth in the field of refining and petrochemicals, especially after announcing in 2018 plans to diversify the raw materials it processes.
Drive head
In detail, the Abu Dhabi National Oil Company (ADNOC) announced the progress of the “project to enhance the flexibility of crude oil refining operations” in Ruwais, with the completion of 73% of the project, which aims to develop its capabilities in the refining industry and enhance the role of Ruwais as a main engine to drive industrial growth in the country. Emirates and Abu Dhabi.
The company stated in a statement yesterday that the project allows ADNOC to process the upper Zakum crude extracted from the offshore oil fields in Abu Dhabi, along with 50 different types of other raw materials, after its refining operations were mainly dependent on processing the extracted Murban crude. From the wild fields in the Emirate of Abu Dhabi for over 40 years.
An important step
The Minister of Industry and Advanced Technology and CEO of ADNOC and its Group of Companies, Dr. Sultan Ahmed Al-Jaber, said: “We continue to focus on increasing the profit margin and achieving the maximum possible value from every barrel of oil produced, in parallel with the smart and responsible investment approach in various market conditions. ». Al-Jaber added, “Investing in (the project to enhance the flexibility of crude oil refining operations) is an important step towards achieving our goals to develop the Ruwais complex and turn it into a global industrial center in the field of refining and petrochemicals, and to enhance the role of (ADNOC) as a major engine to advance industrial growth and economic diversification in the UAE. The long-term".
Cost
The Dh12.8 billion project to enhance the resilience of refining operations in crude oil is a key driver in implementing the ADNOC 2030 strategy for smart growth in the field of refining and petrochemicals, especially after announcing in 2018 plans to diversify the raw materials it processes.
The project will contribute to increasing the value of every barrel of oil ADNOC produces and processes, by enhancing the profit margin of the refining operations, in addition to allowing the export of more high-value Murban crude.
Great progress
ADNOC has made significant progress in the infrastructure work of the project to enhance the resilience of crude oil refining operations, as the main structural elements have been installed on the site over the past two months, including the structures of 24 units for removing sulfur residues and two new distillation units that allow separation of components in crude oil to double the refining operations.
The two distillation units, each weighing 317 tons, were transferred from South Korea to the UAE, while the installation of the 80-meter-high structures took three weeks during June and July 2020. The "project to enhance the flexibility of crude oil refining operations" will be available upon completion in mid-year. 2022 Processing up to 420,000 barrels per day of the heaviest and acidic types of crude oil, out of the total refining capacity at Ruwais, which reaches 840,000 barrels per day.
More flexible
The development of more flexible and adaptive refining capabilities in Ruwais is a key aspect of ADNOC's 2030 strategy for smart growth in the field of refining and petrochemicals, which it announced at the ADNOC Refining and Petrochemical Investment Forum in 2018.
Since then, ADNOC has been able to attract significant foreign investment to Ruwais and expand its partnerships in the areas of refining, fertilizers and pipeline infrastructure assets.
ADNOC continues to implement its plans to expand its refining and petrochemical business in the UAE, which will witness the transformation of the Ruwais Industrial Complex into a globally competitive chemical and petrochemical complex by taking advantage of the UAE’s distinguished geographical location near global growth markets, and the availability of materials. Raw raw materials at competitive prices, integrated facilities and services, in addition to the reliable and attractive regulatory and financial environment in Abu Dhabi. Investment in Ruwais will stimulate private sector activity and support specialized job opportunities in the long term, especially in the Al Dhafra region.
40 million tons of refined products
ADNOC Refining produces more than 40 million tons annually of high-value refined products for markets around the world, as it refines up to 922,000 barrels per day of crude oil and condensates in various products that include liquefied petroleum gas, naphtha, gasoline, and jet fuel. And gas oil, essential oils, fuel oil, and other raw materials used in the petrochemical industry such as propylene. The company also produces specialty products such as carbon black and anode charcoal. Since 2019, ADNOC Refining has been operating as a joint venture between ADNOC and the European energy companies Eni and OMV.
The project, upon completion in mid-2022, will allow processing 420,000 barrels per day of crude oil.