Khalid bin Mohammed bin Zayed chairs the meeting of the Executive Committee of the Board of Directors "ADNOC"

ABU DHABI, 11TH November, 2018 (WAM) – His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi, chaired the meeting of the Executive Committee of the Board of Directors of ADNOC, which was held at the company’s headquarters in Abu Dhabi.

During the meeting, His Highness was briefed on the company’s performance and strategic priorities during the next phase, including its plans to enhance local growth and international expansion through “XRG”, in addition to its plans to accelerate digital transformation by employing the latest artificial intelligence technologies and tools, and enhancing programs to empower and develop national competencies in various vital fields.

During the meeting, His Highness pointed to the success achieved by the Abu Dhabi International Petroleum Exhibition and Conference “ADIPEC 2025” and its role in enhancing cooperation and exchanging experiences on the future of the energy sector, and consolidating the position of the United Arab Emirates as a strategic partner in supporting the security and sustainability of energy supplies.

ADIPEC 2025 witnessed the completion of 35,000 deals across various sectors, with a total value of 168.8 billion dirhams ($46 billion), while the number of attendees reached more than 239,000 visitors from 172 countries, which reflects the UAE’s position as a global energy center and a leading destination for building qualitative partnerships and enhancing the innovation system in this vital sector.

During the ADIPEC events, ADNOC announced a group of agreements that contribute to enhancing its international growth through XRG, and expanding the use of artificial intelligence technologies in its operations, which contributes to creating sustainable value to support the national economy. His Highness praised the progress made by the company in implementing these initiatives, stressing the importance of continuing to develop the competitive capabilities of the company’s business to keep pace with the rapid global transformations in the energy sector.

Among the most prominent deals concluded by ADNOC during the event was the awarding of a contract worth 7.3 billion dirhams ($1.99 billion) to Taziz Company to establish the first factory of its kind in the country to produce polyvinyl chloride in one integrated site, which strengthens the country’s position in the manufacturing industries.

XRG also signed a framework agreement with the Argentinian company YBF and the Italian Eni, to study participation in an integrated liquefied natural gas project in Argentina, which will enhance ADNOC’s presence in global markets and support its sustainable growth strategy.

The meeting was attended by His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, Managing Director and CEO of ADNOC and its group of companies; His Excellency Suhail bin Mohammed Faraj Faris Al Mazrouei, Minister of Energy and Infrastructure; His Excellency Ahmed Ali Al Sayegh, Minister of Health and Community Protection; His Excellency Khaldoun Khalifa Al Mubarak, Managing Director and Group CEO of Mubadala Investment Company; His Excellency Jassim Mohammed Buataba Al Zaabi, Chairman of the Department of Finance – Abu Dhabi.

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