New Research and Development (R&D) centre owned by the Abu Dhabi National Oil Company (ADNOC) will open in Abu Dhabi in 2015, according to senior ADNOC official.
Speaking at a press conference on the sidelines of the Abu Dhabi International Research & Development Conference & Exhibition (ADRAC), Yasser Saeed Al Mazrouei, Deputy Director E&P, ADNOC and Chairman, ADRAC 2015, said: “The new centre will be world class and we’ve brought in best people to design it.”
“We are collaborating with international oil companies to work with us in the centre,” he added.
Mazrouei said ADNOC would not make cuts to its R&D budget, but did not specify what amount is currently being allocated to research and development.
“We are not cutting down budget but increasing the number of people going abroad to study to develop skills. I believe it is too early to cut down or put limitation on research,” he said.
“[The] R&D budget has been increasing proportionately over the years and we’ve never been asked to put a cap on our budget. For the past ten years, we’ve been investing on research and development. Whenever we had a proposal it was never dropped.”
