UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan presided over the annual meeting of the ADNOC Board of Directors, which approved the company’s five-year business plan and capital expenditure of US$150 billion (AED551 billion) for 2026-2030.
Recognising ADNOC’s success in delivering on its domestic and international growth strategy while strengthening its resilience in a fast-evolving energy landscape, His Highness called on the company to scale its impact beyond performance. He urged ADNOC to convert success into strategic advantage to reinforce the UAE’s standing as a technology-driven energy powerhouse.
ADNOC has helped increase the UAE’s conventional reserves base 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 has led to the UAE becoming the world’s sixth-largest oil reserves and the seventh-largest gas reserves.
ADNOC has also made new oil and gas discoveries of more than 1.2 billion barrels of oil equivalent (boe). The discoveries were enabled by the deployment of industry-leading technologies, including the world’s largest three-dimensional (3D) seismic survey and the application of artificial intelligence (AI)-powered data interpretation that has unlocked previously inaccessible structures and formations.
His Highness also acknowledged and thanked ADNOC employees across the Group for their hard work, dedication, and vital role in enabling the UAE’s continued success.
Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO, commented: “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.
“Our success this year in navigating a complex energy landscape and accelerating domestic and international growth is a testament to the dedication of all my colleagues at ADNOC and our focus on leveraging advanced technologies and AI to future-proof our business.
“We will continue to transform how we create value at speed and scale, driving a new era of intelligence-powered performance, operating at the intersection of AI and energy, to deliver growth for the UAE.”
Ghasha project
The Board approved the establishment of ADNOC Ghasha, a new operating company for the Ghasha Concession, which includes the Hail, Ghasha, Dalma, SARB, and Nasr fields. The concession is set to produce 1.8 billion scf of gas and 150,000 barrels per day of oil and condensates.
Construction of the Hail and Ghasha mega project, a key development within the Ghasha concession, is now progressing at pace.
His Highness underlined ADNOC’s continued role as a catalyst for the UAE’s growth and diversification and recognised the company for creating new economic and industrial opportunities for the private sector through its In-Country Value (ICV) programme and for its support of the ‘Make it in the Emirates’ initiative.
All key final investment decisions (FID) now been taken on another ADNOC project, TA’ZIZ Phase 1 chemicals ecosystem in Al Ruwais Industrial City, Al Dhafra region. The ecosystem is set to produce 4.7 million tonnes per annum (mtpa) of industrial chemicals and will be one of the largest integrated chemical platforms in the Gulf region. Together with ADNOC’s other chemicals projects, it will expand chemicals production capacity to 11 mtpa by 2028.
ICV programme
In 2025, ADNOC’s ICV programme has driven US$17.7 billion (AED65 billion) back into the UAE economy. These achievements bring the total value of its ICV programme to US$83.7 billion (AED307 billion) since it was launched in 2018. A total of 23,000 UAE Nationals are now employed in the private sector through the programme.
Building on these achievements, the Board endorsed ADNOC’s target to drive US$60 billion (AED220 billion) into the UAE economy over the next five years.
The Board also noted ADNOC’s progress in boosting local manufacturing of critical industrial products in its supply chain. To date, the company has signed offtake agreements for locally-manufactured products worth US$21.8 billion (AED80 billion). The company has a target to locally manufacture US$24.5 billion (AED90 billion) worth of products in its procurement pipeline by 2030.
XRG, ADNOC’s international energy investment company, was recognised for increasing its enterprise value from over US$80 billion (AED290 billion) to US$151 billion (AED554 billion), following its launch just over a year ago in November 2024. This transformative growth has positioned Abu Dhabi as one of the largest and fastest-growing international energy investors.
Among the dignitaries attending the meeting were His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President, Deputy Prime Minister, and Chairman of the Presidential Court; HH Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council; HH Sheikh Hamdan bin Zayed Al Nahyan, Ruler’s Representative in Al Dhafra Region; HH Sheikh Hazza bin Zayed Al Nahyan, Ruler’s Representative in Al Ain Region; Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure; Dr Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology and ADNOC Managing Director and Group CEO; Khaldoon Khalifa Al Mubarak, Chairman of the Executive Affairs Authority and Managing Director and Group CEO of Mubadala and others.
The annual meeting was held at the Habshan complex in Abu Dhabi, a strategic hub for the company’s onshore operations which includes one of the world’s largest gas processing facilities. It was held in the operations control room operated by ADNOC Gas, which supplies 60 per cent of the UAE’s natural gas requirements to support the energy and industrial sectors.
Habshan is central to powering the UAE’s industrial growth, providing a reliable supply of natural gas and feedstock to key industries. It supports various industries, including aluminium and steel production, cement manufacturing, and petrochemical facilities.
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