ADNOC, Saudi Aramco to Sign Agreement at Adipec

Sunday, 11th November 2018
by Editorial Team

Haradh, SAUDI ARABIA: A general view shows a new plant inaugurated 22 March 2006 in Haradh, about 280 kms (170 miles) southwest of the eastern Saudi oil city of Dhahran, launching a project adding 300,000 barrels of oil to the kingdom’s daily production capacity. The facility which was opened today in a ceremony attended by Saudi Oil Minister Ali al-Nuaimi was completed in January, ahead of schedule, the company said. Approximately 160 kms (100 miles) of new pipeline and extensions will transport crude and gas products to processing facilities further north in the Eastern Province, a statement said. Saudi Arabia, the world’s top crude producer and exporter, currently pumps around 9.5 million bpd of oil and has a production capacity of around 11 million bpd. AFP PHOTO/STR (Photo credit should read -/AFP/Getty Images)

Abu Dhabi National Oil Company (ADNOC) and Saudi Aramco will sign an agreement at the Abu Dhabi International Petroleum Exhibition and Conference (Adipec) in Abu Dhabi on November 13, The National reported.

The event will be attended by Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group chief executive, and Amin Nasser, Aramco president and chief executive, according to an emailed statement.

“The UAE and Kingdom of Saudi Arabia have a strong relationship built on strategic interests,” the statement said without any further details.

The two companies are exerting their best efforts to expand internationally, and boost refining and petrochemical production to extract greater value from their crude.