Company’s historic gas strategy will enable the UAE to become gas self-sufficient, with the potential to become a net gas exporter
Oil production capacity to increase to 4mmbpd by end of 2020 and 5mmbpd by 2030
ADNOC to sustain LNG production to 2040
Discovery of 1 billion barrels of oil and 15 trillion square cubic feet of additional gas
ADNOC HQ Building in Abu Dhabi, United Arab Emirates (Photo: AETOSWire)
ABU DHABI, United Arab Emirates--(BUSINESS WIRE)--The Abu Dhabi National Oil Company’s (ADNOC) announced, today, its plans to launch a new integrated gas strategy and increase its oil production capacity to 4 million barrels per day (mmbpd) by the end of 2020 and 5mmbpd by 2030, following approval from the Supreme Petroleum Council (SPC), the highest governing body of the oil and gas industry in Abu Dhabi. The company also announced capital investment growth of $132.33 billion between 2019-2023 and new discoveries of 1 billion barrels of oil.
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