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ADNOC announces $150bn investment plan for 2026โ30
Yahoo Financeยท 2025-11-25 11:21
Investment Plan - Abu Dhabi National Oil Company (ADNOC) has announced a $150 billion investment plan for the period between 2026 and 2030 to sustain operations, expand growth, and address global energy needs [1] - The investment plan was discussed during the annual Board of Directors meeting chaired by UAE President Sheikh Mohamed bin Zayed Al Nahyan [1] Reserves and Production - ADNOC's updated oil reserves are now at 120 billion stock tank barrels (bstb), an increase from 113 bstb, while natural gas reserves have risen to 297 trillion standard cubic feet (tscf) from 290 tscf [2] - The Ghasha concession, which includes the Hail, SARB, Ghasha, Dalma, and Nasr fields, is expected to produce 1.8 billion standard cubic feet of gas and 150,000 barrels per day of oil and condensates [5] International Partnerships and Exploration - ADNOC is attracting new international partners for unconventional exploration concessions to enhance gas self-sufficiency and meet rising global gas demand [3] - The unconventional resources in Abu Dhabi are estimated at 160 tscf of gas and 22 bstb of oil [3] Technological Advancements - ADNOC's international investment division, XRG, has seen its enterprise value grow to $151 billion from approximately $80 billion since its launch in November 2024 [4] - Recent oil and gas discoveries have amounted to over 1.2 billion barrels of oil equivalent (bboe), aided by advanced technologies such as the world's largest 3D seismic survey and AI-powered data interpretation [4] Financial Performance - Adnoc Gas reported a net income of $1.34 billion for Q3 2025, marking its highest-ever Q3 net income, which represents an 8% increase compared to the same period last year [6]