شارع 9 الحلقة 1 الاولى


شارع 9 الحلقة 1 الاولى نرمين الفقى رانيا يوسف و محمود عبد المغنى و نضال الشافعي



The meeting of the Board of Directors of the Abu Dhabi National Oil Company "ADNOC", on Wednesday, witnessed the announcement of a significant increase in the UAE's reserves of oil and natural gas, including 4 billion barrels of oil and 16 trillion standard cubic feet of gas, according to the Emirates News Agency (WAM).





With this increase, the UAE’s national reserves of hydrocarbon resources reach 111 billion barrels of oil equivalent and 289 trillion standard cubic feet of natural gas, which enhances its position in the sixth place globally in the list of countries with the highest oil reserves, and seventh in the list of countries with the largest gas reserves. natural resources, and contributes to consolidating its position as a reliable global energy supplier.


The board also approved ADNOC's action plan to increase its capital investments to 466 billion dirhams ($127 billion) for the next five years (2022-2026), which will enable the company to move forward in implementing its plans to increase its production capacity of crude oil, and develop and expand its business portfolio in In the field of refining, manufacturing, marketing and petrochemicals, in addition to achieving its ambitious goals in the field of producing low carbon fuels and clean energy.


In line with its plan to increase its capital investments, ADNOC aims to redirect more than 160 billion dirhams ($43.6 billion) to the local economy during the period between 2022 and 2026, through its program to enhance the local added value to contribute to stimulating growth and economic diversification to support the objectives of The "Fifty Principles", which lays out a roadmap for sustainable economic growth for the next 50 years.

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