Wednesday, November 21, 2018

ADNOC to Boost Production Capacity

November 5, 2018

Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO (Photo: ADNOC)

Abu Dhabi state-owned oil producer ADNOC plans to increase oil production capacity to 5 million barrels per day by 2030, the emirate's crown prince said in a tweet.

Abu Dhabi's "Supreme Petroleum Council approved AED 486 billion ($132.33 billion) in capex to support ADNOC's 5-year growth plans, including its gas strategy to become self-sufficient and a net gas exporter," Sheikh Mohammed Bin Zayed also said in his tweet.


($1 = 3.6726 UAE dirham)

(Reporting by Maher Chmaytelli; Editing by Catherine Evans)

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