More Profitable Upstream
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.
• 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
further production cost reduction per barrel, from a leading low cost base
tons of captured CO2 injected into wells annually as part of EOR program and freeing up natural gas for the grid
in onshore concession participation fee