His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, recently chaired a meeting of the Executive Committee of the ADNOC Board of Directors.
During the session held at ADNOC’s Headquarters, His Highness assessed ADNOC’s domestic growth initiatives, which encompass its unconventional exploration program. This program is pivotal as ADNOC continues to generate value for the UAE while future-proofing its operations. As the company broadens its portfolio to guarantee a secure and reliable global energy supply, it is also establishing new domestic value chains that are instrumental in fostering economic and industrial development within the UAE.
Advancing sustainable energy solutions
This strategic direction includes TA’ZIZ, ADNOC’s joint venture with ADQ, which has recently awarded a contract to construct the first methanol plant in the UAE. Methanol stands out as one of the most promising transition fuels, offering a cleaner alternative to traditional fuels such as coal and diesel for power generation.
Read more: ADNOC L&S announces revenue of $3.55 billion in 2024, up 29 percent year-on-year
Leading international investment in energy
His Highness was further briefed on XRG, ADNOC’s newly launched international investment company, which aims to spearhead transformative investments in global energy systems. This initiative is crucial as it accelerates ADNOC’s international expansion while addressing the rising global energy demand.
Commitment to sustainable growth and carbon reduction
His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan commended ADNOC’s continuous endeavors to establish new standards in sustainable growth and lower-carbon energy production. He emphasized the significance of expanding joint projects to bolster the UAE leadership’s dedication to reducing carbon emissions and diversifying energy sources. Additionally, he underscored the role of advanced technologies and eco-friendly initiatives in propelling national sustainability efforts.
Focusing on local manufacturing opportunities
His Highness also stressed the importance of the forthcoming Make it in the Emirates forum in Abu Dhabi, scheduled for May 2025. He acknowledged ADNOC’s persistent initiatives to enhance local manufacturing and increase reliance on domestic goods and services. The forum will serve as a platform for investors and companies to capitalize on the opportunities arising from the UAE’s rapidly growing industrial sector. ADNOC, for its part, continues to develop local manufacturing opportunities for both UAE and international enterprises through its In-Country Value program.
Empowering ADNOC’s workforce
In addition, His Highness reviewed ongoing initiatives aimed at empowering ADNOC’s workforce, fortifying family bonds, and reinforcing UAE National Identity during the Year of Community. He highlighted the significance of these efforts in cultivating a positive and sustainable work environment that nurtures national talent and enhances their contributions to development and prosperity.
Key attendees at the meeting
Present at the meeting were His Excellency Dr. Sultan Ahmed Al Jaber, UAE minister of Industry and Advanced Technology and ADNOC managing director and group CEO; His Excellency Ahmed Ali Al Sayegh, UAE minister of State; His Excellency Khaldoon Khalifa Al Mubarak, managing director and group CEO of Mubadala Investment Company; and His Excellency Jassem Mohamed Bu Ataba Al Zaabi, chairman of the Abu Dhabi Department of Finance.
