The award is expected to support ADNOC’s objective to achieve 5 million barrels of daily crude oil production capacity by 2030
ADNOC
ADNOC Drilling awarded over $3.4 billion in contracts to boost offshore production capacity
Over 80% of the contract value will flow back into the UAE’s economy under ADNOC’s In-Country Value program
ADNOC Distribution acquires a 50% stake in TotalEnergies Egypt for approx. $200mn
The acquisition by ADNOC Distributions will also see the refurbishment of several service stations to ADNOC branding, offering a robust foothold in a fast-growing fuel retail market in Egypt
ADNOC makes second gas discovery from offshore Block 2 exploration concession
Operated by Eni, ADNOC’s latest discovery indicates a further 1 – 1.5 TSCF of natural gas from a deeper zone in Abu Dhabi’s Offshore Block 2 Exploration Concession
ADNOC Drilling wins $2bn contracts for mega development project
Overall, more than 80% of the value of the awards will flow back into the UAE’s economy under Adnoc’s successful In-Country Value programme
ADNOC and TotalEnergies sign strategic partnership agreement
ADNOC and TotalEnergies to explore opportunities to collaborate in areas of mutual interest, including in gas growth, CCUS and trading and product supply
TAQA and ADNOC enter into binding agreements to purchase stakes in Masdar from Mubadala
The binding agreements will see TAQA acquire a 43% controlling stake in Masdar’s renewables business with Mubadala retaining a 33% interest, and ADNOC owning the remaining 24% interest
ADNOC Drilling acquires 2 new premium offshore rigs
The two new drilling units are being acquired from Well Target Five Limited and Well Target Six Limited , and will enter ADNOC Drilling’s fleet in Q3 2022
ADNOC acquires 25% stake in bp’s blue hydrogen project marking its first investment in the UK
bp has inked an investment deal forming a strategic partnership with ADNOC and Masdar for its planned blue and green hydrogen projects
Borouge IPO values company at $20 billion
ADNOC and Borealis will list shares of Borouge at $0.67 per share, as part of its initial public offering