Abu Dhabi National Oil Company held its second capital investment forum on Saturday, providing an update on its strategy and pipeline of partnership and co-investment opportunities to 200 members of the world's financial and investment community.
The forum presented an overview of Adnoc's oil, gas and petrochemicals properties, its new trading company, and an update on its progress towards its 2030 strategy. The firm also introduced its new integrated energy strategy to achieve gas self-sufficiency and a possible move to become a net exporter of gas.
"Adnoc's investor forum aims to provide a deeper understanding of Adnoc's ambitious vision and 2030 plan for growing its position across the energy value chain and ensuring greater market access for its goods to the global financial and investment community," said Dr. Sultan Al Jaber, Chief Executive and Minister of State for Adnoc Group.
"As in the past, we are actively seeking long-term value-adding partners to invest and expand alongside us. Over the past two years, we have built a significant pipeline of opportunities for attractive and transformative investments and co-investment, covering equity and debt, including opportunities in our infrastructure company portfolio, service and support, as well as our key business activities. This platform clearly demonstrates our strong commitment to exchanging and developing new ideas with new types of international partners and world-class investors, and to collaborate together to create more value, "he added.
The UAE accounts for 4% of global crude production, much of which comes from fields owned and operated in Abu Dhabi by Adnoc. The national oil company is aiming to increase production capacity by 2020 to 4 million barrels per day, from currently around 3 million bpd. The company plans to expand production capacity to 5 million bpd in the next decade under its 2030 plan.
Through the IPO of its distribution arm on the Abu Dhabi Stock Exchange and the issue of a $3 billion (Dh11bn) bond by its Adcop pipeline firm, Adnoc has joined global capital and debt markets over the past two years. It also raised investment in its pipeline network from the GIC sovereign fund of Blackrock, KKR and Singapore, which brought in foreign direct investment of $5 billion in the UAE. The company has also signed a slew of oil and gas concession deals with a range of global energy companies from Russia, China, India, Japan, France, Italy, and Austria, among others.
A guest speech at the event was also given on the attractiveness of the UAE as an investment destination by Ahmed Al Sayegh, Minister of State and Chairman of Abu Dhabi Global Market (ADGM), the financial free zone of the Emirates.
Tags : Abu Dhabi National Oil Company, Adnoc's oil, energy value chain, Abu Dhabi Stock Exchange,