The state oil company Abu Dhabi National Oil Company (Adnoc) has announced plans to sign contracts for projects totaling 200 billion AED (55 billion dollars) between 2026 and 2028. This decision comes shortly after the United Arab Emirates withdrew from the OPEC organization.

Expansion of Production and Investments

Adnoc intends to increase its daily oil production from the current 4.85 million to 5 million barrels. The company is also investing in the development of gas extraction in Abu Dhabi, aiming to become one of the leading exporters of liquefied natural gas in the Middle East by the end of the decade.

Industry Changes

Recently, the UAE exited OPEC and the expanded OPEC+ alliance amid disruptions in oil production and transportation through the Strait of Hormuz.

New Investment Program

The company announced it is accelerating the implementation of its strategy, preparing projects worth 55 billion dollars for 2026–2028. These contracts align with the five-year capital investment plan approved by the board of directors last year. Previously, Adnoc had presented an investment plan of 150 billion dollars through 2030.

Project Structure

The portfolio of new projects includes extraction and processing operations, which will significantly boost the UAE’s production capacity and accelerate the country’s manufacturing localization program.

Forum and Collaboration with Contractors

The plans for contract awards were presented at the “Make it with Adnoc” forum in Abu Dhabi, where leading contractors in engineering, procurement, and construction met with 70 local manufacturers.

Expansion of Production Capacity

Adnoc is increasing capacity at major offshore fields, including Upper Zakum, Lower Zakum, Umm Shaif, and Belbazem. The company is also implementing the Ruwais LNG project, with a liquefaction capacity of 9.6 million tons per year, which will more than double the UAE’s existing LNG production capacity to approximately 15 million tons annually.