Abu Dhabi, UAE – 22 May, 2016: ADNOC Group (ADNOC), one of the world’s leading oil and gas companies, today unveiled its new brand aligned with a new strategic focus to ensure that it continues to be a competitive organization that is fit for the future.
Accompanied by ADNOC’s senior executive team, H.E. Dr. Sultan Al Jaber, Minister of State and CEO of ADNOC, revealed the new corporate brand, together with the company’s revamped vision, mission and values that will drive ADNOC’s strategy going forward.
Building on ADNOC’s legacy of success, the new brand signifies the company’s evolution into an organisation focused on the future, based on the pillars of efficiency, profitability, performance and people with an unwavering commitment to health, safety, operational integrity and the environment.
“In line with the leadership’s directives, ADNOC must evolve into a more agile organization to maintain its competitive edge in today’s global economy,” said H.E. Dr. Al Jaber. “This will ensure ADNOC remains a core contributor to the UAE’s progress, future development and longstanding efforts to diversify the economy.
“Every decision we take has to serve the ultimate goal of maximizing shareholder value. We have taken significant steps to ensure ADNOC enhances its commerciality by becoming more efficient and doing more with less, in line with best business practice. It is a continuous process and the foundation of being a world-class organisation.”
ADNOC’s Vision states: “ADNOC strives to be the energy that powers the nation and drives its engines of prosperity by unlocking the full potential of our natural and human resources.”
ADNOC’s Mission states: “We are a performance-driven organization that champions innovation, invests in people and maximizes the value of our resources to meet the energy needs of today and tomorrow.”
To successfully deliver its Vision and Mission, ADNOC has outlined a set of brand values that define how the company will operate. The values include being agile - responding nimbly to market conditions; efficient - focused on optimizing resources; collaborative - recognising more is achieved together than alone; value driven - applying a commercial lens to all business practices; and reliable – being a trusted supplier of energy for the UAE and its customers globally.
To increase its commerciality and profitability, ADNOC has adopted a new operating model. While remaining closely involved in the operations of its businesses. ADNOC will manage and oversee the strategy, planning, as well as the operational, commercial and financial performance of the group and its businesses.
“Our new operating model will play a key role in ensuring ADNOC delivers on its strategic imperatives of creating a more profitable upstream and valuable downstream business, ensuring sustainable and economic gas supply and developing world-class talent,” said H.E. Dr. Al Jaber.
ADNOC recently appointed a number of outstanding executives into leadership roles. Their experience, as well as their forward thinking, will enable the company to deliver on its strategic imperatives, while also enhance existing revenue streams, create new ones, and stay focused on improving return on investment.
H. E. Dr. Al Jaber emphasized that nurturing and developing the talent within ADNOC is a fundamental building block of the company’s future growth. ADNOC will promote the best and the brightest employees to develop the next generation of leaders to ensure that the company remains successful for decades to come.
ADNOC’s non-core operations, including the Petroleum Institute, ADNOC Schools and ADNOC Medical, are an important element of the company’s social responsibility and contribution to the UAE’s broader socio-economic infrastructure. ADNOC remains committed to ensuring their quality, performance and financial sustainability.
ADNOC is a major diversified group of oil, gas, refined products, chemical, petrochemical and service companies that produces 3.1 million barrels of oil a day. Its integrated upstream and downstream activities are carried out by 21 specialist subsidiary and joint venture companies.