ADNOC expects a number of agreements to enhance cooperation with American energy companies

ADNOC announced today a set of agreements with a number of the most prominent American energy companies, as this came during the “UAE -American Labor Dialogue” that was held with the participation of His Excellency Donald Trump, President of the United States of America.

It is expected that these agreements will contribute to the implementation of American investments in energy projects in the UAE, with a value of up to 60 billion dollars during the entire duration of the projects.

The agreements include a plan to develop fields with the “Exxon Mobil” and “Inbucks/Judco” to increase the production capacity of the Zakum Alawite Maritime field in Abu Dhabi through gradual stages. ADNOC also signed a strategic cooperation agreement with Oxidental to explore ways to raise the production capacity of the Shah Gas field to 1.85 billion standard cubic feet per day of natural gas, compared to the current energy of 1.45 billion standard cubic feet per day, and accelerate the application of advanced technology in the field.

These agreements reinforce the commitment of the UAE and the United States of America to ensure global energy security and the stability of its markets.

It is expected that the value of the UAE investments in the energy sector in the United States will reach 440 billion dollars by 2035, as part of the UAE’s plan to implement investments worth $ 1.4 trillion in the United States.

On this occasion, His Excellency Dr. Sultan Ahmed Al -Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies said: “In line with the vision and directives of good leadership to build qualitative partnerships to enhance economic and social growth, bilateral relations between the UAE and the United States of America affirm the commitment of the two countries to ensure energy security and the stability of their supplies, and contribute agreements The task we announced with a number of the most prominent American companies in the sector in enhancing this commitment.

“We are focusing on seizing the promising opportunities available to build more partnerships between the two countries in the areas of energy interconnection and artificial intelligence, and we also look forward to working with our partners in the United States to create a long -term sustainable value,” Ma’ale added.

The United States is one of the priority markets for “XrgThe global investment company in the energy field of ADNOC, which works to enhance its investments along the value chain for the American energy sector with a focus on gas, liquefied natural gas, specialized chemicals, and the sector’s infrastructure.

Based on its ambitious investment plans in the United States, it took place.Xrg“A framework agreement with the company” 1Pointfive“Oxidental”, with the aim of studying the implementation of a significant investment in a project that uses the “direct capture” technology in Cleberg Province, Texas.

The project aims to capture and store 500,000 tons of carbon dioxide annually, using advanced and commercial technology, as it is taught.Xrg“Commitment to a capital up to a third of the total cost of project development.

In conjunction with these agreements, the Supreme Council for Financial and Economic Affairs in Abu Dhabi granted a new privilege to explore the unconventional oil resources of EOG Resource, the leader in the field of oil and gas exploration and gas, which is based in the United States of America.

This is the first time that the franchise rights are awarded to explore unconventional resources in the wild area (3) on an American company, and the area of ​​this region is 3609 square kilometers and is located in the Al Dhafra area in the Emirate of Abu Dhabi.

This step emphasizes the importance of the energy sector in Abu Dhabi and establishes its position as a reliable investment destination, and “ADNOC” will supervise exploration activities in this privilege and provide the necessary support, and will also have the option to join the production concession in the future.

The gradual development plan for the Zakum Alawite field will be implemented by taking advantage of the techniques of artificial intelligence, advanced technology at the sector level, deep experience and strong partnership between “ADNOC”, “Exxon Mobil” and “Inbuxe/Judco”, to increase the production capacity in a sustainable way and contribute to meeting the increasing global demand through the production of the least oil materials in carbon emissions at the sector level Alawite Zakum is part of the Zakum field, the second largest sea field in the world.

The plan also aims to develop the infrastructure in the Zakum Alawite field to enable distance operations using artificial intelligence, and to facilitate the connection of operations with electricity supplies generated by relying on clean energy sources in the UAE to reduce emissions, in addition to the use of artificial islands in drilling operations to enhance environmental protection.

It is noteworthy that the Zakum Alawite field is 84 km northwest of Abu Dhabi, while the Shah Gas field is 180 km southwest of Abu Dhabi, one of the largest fields of its kind in the world, and it is planned that its potential expansion will allow an increase in the production capacity of gas to contribute to supporting the growth of the national industry sector, and providing more liquefied natural gas resources for export.