UAE President Sheikh Mohamed Bin Zayed Al Nahyan Leads ADNOC Board Meeting At Habshan Complex

President His Highness Sheikh Mohamed bin Zayed Al Nahyan led the ADNOC Board of Directors' annual meeting at Abu Dhabi's Habshan complex. This site is crucial for ADNOC’s onshore operations and includes a major gas processing facility. The meeting took place in the control room managed by ADNOC Gas, which supplies 60% of the UAE's natural gas needs, supporting both energy and industrial sectors.

The Board approved ADNOC’s five-year business plan with a capital expenditure of $150 billion (AED551 billion) for 2026-2030. This investment aims to sustain current operations and foster growth to meet rising global energy demands. His Highness praised ADNOC's achievements in expanding its domestic and international strategies while enhancing resilience in a rapidly changing energy environment.

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ADNOC has increased the UAE’s conventional reserves from 113 billion stock tank barrels (stb) of oil to 120 billion stb, and from 290 trillion standard cubic feet (tscf) of natural gas to 297 tscf. This reinforces the UAE's position as having the sixth-largest oil reserves and seventh-largest gas reserves globally. New discoveries totaling over 1.2 billion barrels of oil equivalent were made possible through advanced technologies like AI-powered data interpretation.

The Board also endorsed the creation of ADNOC Ghasha, a new operating company for the Ghasha Concession, which includes fields like Hail and Dalma. The concession is expected to produce 1.8 billion scf of gas and 150,000 barrels per day of oil and condensates. Construction on the Hail and Ghasha mega project is advancing rapidly.

ADNOC’s In-Country Value (ICV) programme has injected $17.7 billion (AED65 billion) into the UAE economy this year alone, bringing total contributions since 2018 to $83.7 billion (AED307 billion). The programme has also facilitated employment for 23,000 UAE Nationals in the private sector through partnerships with entities like NAFIS.

The Board recognised XRG, ADNOC’s international energy investment arm, for increasing its enterprise value from over $80 billion (AED290 billion) to $151 billion (AED554 billion). This growth positions Abu Dhabi as a leading international energy investor, driven by disciplined long-term strategies.

Technological Advancements

The Board highlighted ADNOC’s commitment to becoming an AI-enabled energy leader by deploying advanced technologies across its operations. MEERAi, an innovative boardroom AI tool used across ten ADNOC Group companies, supports decision-making processes by providing data-driven insights.

ADNOC’s Productivity Index was launched to enhance employee efficiency by offering real-time insights that help teams work smarter and focus on high-value activities that drive performance.

Supporting National Identity

The Board discussed initiatives aimed at reinforcing Emirati identity within corporate culture as part of the Emirati National Identity Strategy launched by the UAE Government. These initiatives are designed to promote national identity while enabling economic and social development.

Progress on TA’ZIZ Phase 1 chemicals ecosystem in Al Ruwais Industrial City was acknowledged, with all key final investment decisions now made. This ecosystem will produce 4.7 million tonnes per annum of industrial chemicals, expanding production capacity significantly by 2028.

Leadership Acknowledgements

Ahead of the meeting, His Highness toured Habshan complex where he met Emirati employees contributing significantly to operations there. He expressed gratitude for their dedication and emphasised that people are the UAE's greatest asset, reaffirming leadership's commitment to prioritising their development.

The meeting was attended by several high-ranking officials including H.H. Sheikh Mansour bin Zayed Al Nahyan; H.H. Sheikh Khaled bin Mohamed bin Zayed Al Nahyan; H.H. Sheikh Hamdan bin Zayed Al Nahyan; H.H. Sheikh Hazza bin Zayed Al Nahyan; Suhail Mohamed Al Mazrouei; Dr Sultan Ahmed Al Jaber; Dr Ahmed Mubarak Al Mazrouei; Ahmed Al Sayegh; Jassem Al Zaabi; Dr Abdulla Al Jarwan; Khaldoon Khalifa Al Mubarak along with other sheikhs and senior officials.

Dr Sultan Ahmed Al Jaber stated: "With the steadfast support of President His Highness Sheikh Mohamed bin Zayed Al Nahyan and the guidance of our Board of Directors, ADNOC continues to responsibly provide energy to meet growing global demand while maximising value for our shareholders." He highlighted how leveraging advanced technologies helps future-proof their business amidst a complex energy landscape.

With inputs from WAM