Abu Dhabi National Oil Company (Adnoc) will offer new oil and gas blocks for bidding to help the country hit new untapped resources, announced Adnoc CEO, Sultan al-Jaber, during CERAWeek in Houston, US, Platts reported.

During the CERAWeek, al-Jaber further revealed that Adnoc plans to move further downstream, as a part of its interest to take full advantage of the increasing demand for higher value petrochemical and refined products, according to Cision PR Newswire.

Adnoc aims to host a Downstream Investment Forum, which will be held in Abu Dhabi, on May 13th and 14th. During the forum, the company plans to reveal significant co-investment opportunities aiming to grow and strengthen its downstream portfolio.

“We will unveil significant co-investment opportunities for all partners, ready to work alongside us at a special event this coming May, as we transform our Downstream portfolio domestically and internationally,” al-Jaber said.

“I would like to extend an invitation to those who are keen to join us on this journey, to attend the Adnoc Downstream Investment Forum, where we will unveil our roadmap, signature projects and detailed investment plans. As we begin this next phase of our development, we welcome existing and prospective partners to join us in creating smarter growth for our long-term mutual benefit,” he added.