The Abu Dhabi National Oil Company (ADNOC) is increasing its partnerships and investments in light of its new balanced smart growth strategy that aims to drive production and meet the world’s growing energy demand, Minister of State and ADNOC Group CEO, Sultan bin Ahmad Sultan Al Jaber, said, Zawya reported.
“We will develop additional opportunities for investors and partners focused on value and who share our values,” Al Jaber said during the 40th Oil and Money Conference hosted by Energy Intelligence in London. Commenting on ADNOC’s strong environmental performance, Dr. Al Jaber stressed that responsible production is one of ADNOC’s most important founding values.
Al Jaber addressed the global economic trends in the energy industry and outlined ADNOC’s response to the fast-evolving energy landscape. According to him, short term energy demand often softens in response to current downside risks in the global economy. However, over the medium and long-term, the outlook remains positive, solid, and robust.”
He added that to control costs, companies should stay focused on capital efficiency and targeted long-term investment. “At ADNOC, that is exactly our approach. We are pursuing a balanced smart growth strategy that is cautious on costs while remaining bullish on long-term demand. We are greatly expanding our oil production capacity and unlocking vast reserves of natural gas. By tapping into gas caps, undeveloped reservoirs, and unconventional resources, we are on track to achieve gas self-sufficiency and in time, become a net gas exporter,” Al Jaber noted.