It ranked sixth in the world in oil reserves

The UAE is a responsible producer and an influential player in the global oil sector

ADNOC plans to increase its capital investments to 466 billion dirhams for the next five years.

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His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the State, has paid great and special attention to the oil and gas sector, as His Highness has always directed and called for the development of this vital sector in a way that meets the aspirations of the UAE for growth and development and achieving sustainable development during the coming decades, by increasing its production capabilities and investing resources Energy to achieve sustainable added value for the UAE and its people.

The visions, directives, and sound follow-up of His Highness contributed to the modernization and development of the oil and gas sector and the consolidation of the UAE’s leading position as a responsible producer and an influential player at the global level in this vital sector.

His Highness Sheikh Mohamed bin Zayed Al Nahyan has always focused on the importance of the initiatives and steps taken by the Abu Dhabi National Oil Company "ADNOC" to ensure that its work keeps pace with the transformation in the energy sector and continues its achievements to create more opportunities for growth and development and increase the added value and attention to innovation and modern technology and its important role in foreseeing future and stimulating economic growth and diversification in the country.

His Highness the President of the State supported an approach that calls for focusing on the optimal exploitation of the country's hydrocarbon resources, through responsible production of oil and gas, to drive development and growth and contribute to achieving global energy security, while at the same time working to reduce carbon emissions.

In line with this approach, the meeting of the ADNOC Board of Directors in December 2021 witnessed the announcement of a significant increase in the reserves of the UAE, including four billion barrels of oil, and 16 trillion standard cubic feet of natural gas, and with this increase, the UAE’s national reserves of hydrocarbon resources reach 111. One billion barrels of oil equivalent and 289 trillion standard cubic feet of natural gas, which strengthened the country’s position in sixth place in the world in the list of countries with the highest oil reserves, and seventh in the list of countries with the largest natural gas reserves, and contributed to consolidating its position as a reliable global energy supplier .

At that time, the council also approved ADNOC’s action plan to increase its capital investments to 466 billion dirhams ($127 billion) for the next five years ( 2022-2026), which will enable the company to move forward with the implementation of its plans to increase its production capacity of crude oil and to develop and expand Its portfolio is in the fields of refining, manufacturing, marketing and petrochemicals, in addition to achieving its ambitious goals in the field of producing low carbon fuels and clean energy.

In implementation of the directives of His Highness Sheikh Mohamed bin Zayed Al Nahyan, ADNOC has developed plans in the field of refining, manufacturing and marketing, aimed at evaluating the doubling of its production capacity of liquefied natural gas from 6 to 12 million tons annually, and the potential expansion in the production capacity of LNG depends on The growth and development of ADNOC’s capabilities in the production of natural gas, as it is expected that the new development plans in the field of gas will add three billion standard cubic feet per day, in addition to the expected significant increase in the production of associated gas as a result of ADNOC’s continuous efforts to increase its production capacity of crude oil.

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