UAE President leads ADNOC Board meeting

UAE President Approves ADNOC’s XRG Launch and Economic Growth Plans

The Highness of The UAE President, Sheikh Mohamed bin Zayed Al Nahyan, presided over the annual meeting of the ADNOC Board of Directors, where important decisions were made to support the UAE’s sustainability and energy objectives. The approval of the launch of XRG, a new lower-carbon energy and chemicals investment business, took place at the ADNOC headquarters. In order to meet worldwide demand, this program will concentrate on natural gas, chemicals, and low-carbon energy, which will accelerate ADNOC’s international growth while creating higher value.

During the meeting, the board also endorsed ADNOC’s ambitious target to inject AED 200 billion (about $54.5 billion) into the UAE economy over the next five years through its In-Country Value (ICV) program. This target builds upon AED 55 billion ($15 billion) that has already been delivered this year. In addition to the financial impact, the program has supported the creation of 5,500 jobs for Emiratis in the private sector. Since the program’s inception in 2018, ADNOC’s ICV initiative has contributed AED 242 billion ($65.9 billion) to the UAE economy and has employed over 17,000 Emiratis in the private sector.

Highlighting ADNOC’s strategic efforts to promote industrial prospects, His Highness praised the corporation for its continuous contributions to the economic growth and diversification of the United Arab Emirates. ADNOC’s local manufacturing plan was also discussed at the conference, highlighting the company’s dedication to manufacture vital industrial goods in the United States.

Since 2022, ADNOC has signed local manufacturing agreements worth AED 72 billion ($19.6 billion) and aims to locally manufacture AED 90 billion ($24.5 billion) worth of products by 2030 as part of the UAE’s ‘Make it in the Emirates’ initiative.

The discussion also focused on ADNOC’s gas growth strategy. Through its creative Ruwais LNG project, ADNOC has made significant strides in utilizing the natural gas resources of the United Arab Emirates, which the board praised. This initiative will strategically extend ADNOC’s worldwide gas portfolio with investments in nations including Egypt, Mozambique, Azerbaijan, and the United States, while also doubling the UAE’s capacity to produce LNG to approximately 15 million tonnes annually.

The meeting also highlighted ADNOC’s efforts to lead the way in artificial intelligence and digital technology. ADNOC is on track to become the world’s most AI-enabled energy company, utilizing advanced technologies to improve efficiency, safety, and environmental performance. His Highness Sheikh Mohamed bin Zayed visited ADNOC’s AI center, where he was briefed on cutting-edge AI solutions, including Robowell, an autonomous well-control system, and ENERGYai, a first-of-its-kind AI tool developed in collaboration with AIQ, G42, and Microsoft.

In addition to technological advancements, His Highness was impressed by ADNOC’s efforts to empower young Emirati talent, especially in the field of commodity trading. This is part of ADNOC’s broader strategy to develop skilled professionals for the future, ensuring that young Emiratis are well-prepared for the growing energy sector.

The significance of achieving ADNOC’s 2030 sustainability strategy and net-zero goals by 2045 was underlined by His Highness as part of the company’s ongoing sustainability initiatives. ADNOC has already accomplished a noteworthy milestone by ranking among the world’s least carbon-intensive oil and gas producers. The company is dedicated to attaining near-zero methane emissions by 2030 and further lowering its carbon intensity by 25%.

Dr. Sultan Ahmed Al Jaber, ADNOC’s Managing Director and Group CEO, expressed his gratitude for the steadfast support of the board and President His Highness Sheikh Mohamed bin Zayed. He reinforced ADNOC’s pivotal role in the UAE’s economic growth and energy security while reaffirming the company’s commitment to leading the transition toward a sustainable and low-carbon energy future.

The board’s directives also focus on doubling efforts in sustainability, continuing to drive innovation, and capitalizing on emerging opportunities to ensure that ADNOC remains a key player in the global energy market, delivering growth and value while minimizing environmental impact.