strategy 2030

More Profitable Upstream

More Profitable Upstream

Increasing production capacity, driving cost efficiency, exploring for new resources, reenergizing mature fields, and protecting market share.

We are adapting to changing dynamics in the energy market by maximizing operational efficiencies, increasing our crude oil production capacity, while also optimizing costs – to ensure we remain competitive.

We will deliver operational and cost efficiencies through the careful consolidation of our ADMA OPCO and ZADCO offshore operations, and we will strive for more efficient operations and reduce our production costs, while maintaining our focus on safety and asset integrity. We will increase business value through strategic investments, embedding Group-wide best practices, and leveraging synergies.

We will further develop and expand a leading, regional fully integrated drilling company, as well as develop upstream concession deals with companies that add value and may also seek to strategically partner with ADNOC in other parts of its value chain.

We will seek solutions for developing untapped reservoirs.

Our goal is to:

•    Increase production capacity to 3.5m bpd in 2018
•    Continue efforts and investments in Enhanced Oil Recovery (EOR)
•    Create partnerships that deliver expertise, capital, and technology and bring market access

Our achievements since 2016:

16%

16%

further production cost reduction per barrel, from a leading low cost base

800,000

800,000

tons of captured CO2 injected into wells annually as part of EOR program and freeing up natural gas for the grid

AED 19 Billion

AED 19 billion

in onshore concession participation fee

AED 2 Billion

AED 2 billion

in annual savings expected from the merger of ADMA OPCO and ZADCO

 

2030 STRATEGY OVERVIEW