Prime Highlight:
- ADNOC approves a $150 billion (€130bn) investment plan for 2026-2030 to strengthen its global oil and gas position.
- The company will inject AED 220bn (€52bn) into the UAE economy, supporting domestic manufacturing and SMEs.
Key Facts:
- UAE’s proven reserves now stand at 120 billion barrels of oil and 297 trillion cubic feet of natural gas.
- ADNOC Ghasha will develop the Ghasha Concession, producing 1.8 billion cubic feet of gas and 150,000 barrels of oil per day.
Background:
Abu Dhabi National Oil Company (ADNOC) has approved a $150 billion (€130bn) capital investment plan for the years 2026 to 2030, strengthening its long-term position in global oil and gas markets. The announcement was made during the company’s annual board meeting, chaired by UAE President Sheikh Mohamed bin Zayed Al Nahyan at the Habshan complex, a key natural gas hub that powers around 60% of the UAE’s energy needs.
The board confirmed a fresh increase in the UAE’s proven hydrocarbon reserves. Oil reserves have grown to 120 billion barrels, and natural gas reserves have reached 297 trillion cubic feet, making Abu Dhabi one of the world’s largest resource holders.
ADNOC announced that it had found more than 1.2 billion barrels of oil and gas. It used advanced seismic surveys and AI tools to explore reservoirs that were previously hard to reach.
A new subsidiary, ADNOC Ghasha, will lead the development of the Ghasha Concession. The offshore project is expected to deliver 1.8 billion cubic feet of gas per day and 150,000 barrels per day of oil and condensates.
The company said it has made strong progress in developing unconventional oil and gas. These resources include about 160 trillion cubic feet of gas and 22 billion barrels of oil, which need advanced technology to extract.
ADNOC plans to inject AED 220bn (€52bn) into the UAE economy over the next five years, supporting domestic manufacturing and SMEs through its in-country value programme. The company also noted the fast growth of XRG, its global investment arm, which has boosted its value from $80bn to $151bn.
ADNOC is keeping technology at the center of its strategy, using AI-powered systems and automation in its operations. It is also moving forward with the TA’ZIZ chemical complex in Al Ruwais, which is expected to reach 4.7 million tonnes of production capacity by 2028.
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