The long-term outlook for the global energy demand remains robust, according to the UAE Minister of State and CEO of the Abu Dhabi National Oil Company (ADNOC), Sultan Al-Jaber, Reuters reported.
Al-Jaber believes that the oil and gas industry needs $11 trillion in investment in order to keep up with the projected demand.
Meanwhile, ADNOC is on track to raise its crude oil production capacity to 4 million barrels per day (b/d) by 2020, and 5 million b/d by 2030, Al-Jaber added during his participation in 24th World Energy Council, which is held in Abu Dhabi on September 9-12.
The 24th World Energy Congress aims to bring together international energy stakeholders, including governments, private and state corporations, academia and media.
Over 15,000 participants are expected in the event, which is set to welcome over 250 high-level speakers, 70 ministers, 500 CEOs, and 600 media professionals.