The Abu Dhabi National Oil Company (ADNOC) has announced the expansion of its partnership model to span the Group’s entire value chain as well as the more active management of its portfolio of assets
This new initiative builds on ADNOC’s flexible operating model and its 2030 growth strategy. It will enable ADNOC to unlock and maximise significant value from across the Group, drive business and revenue growth, optimise performance, and secure greater access for its products in key growth markets.
At the heart of this new approach is a range of new and compelling partnership and co-investment opportunities in the oil, gas, refining and petrochemical space. Some of these opportunities will include, but will not be limited to: Upstream - develop and further expand a regional, fully integrated drilling company. The development of upstream concessions with value-added partners that may also seek to strategically partner with ADNOC in other parts of the value chain; Midstream - create a new energy infrastructure venture to both generate value and further optimise ADNOC’s assets.
This venture might include, for example, the bundling of select ADNOC infrastructure assets such as oil, gas or refined products pipelines and storage facilities; Downstream - further open ADNOC’s downstream business to create a number of new partnership and investment opportunities across its portfolio of refinery and petrochemical assets. These new ventures will bring in partners to improve integration, realise synergies and expand technological capability and output to meet the rising global demand for petrochemical products.
His Excellency Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO commented: “Shifting global trends are creating a new energy landscape where new rules of engagement are required. In this new energy era, we need more creative strategies and more flexible business models to capture growth.”
H.E. Dr. Al Jaber continued, “Expanding our partnership model across the whole of our value chain and more actively managing our portfolio will allow us to both unlock value and reinvest capital into new, high growth opportunities. It will enable us to accelerate our growth, increase revenue and improve integration across the ADNOC value chain. It will also spur domestic economic growth as well as bring new jobs and benefits to the UAE and its citizens.”
“This expanded partnership model marks a key milestone in the future growth of ADNOC. At its core is a re-defined more integrated and flexible partnership model for our oil, gas, refining and petrochemical businesses. We are developing a range of creative co-investment opportunities from across our value chain and we will soon begin a dialogue with both new and existing partners from around the world.”
The new initiative is an integral part of the ongoing transformation of ADNOC and, under the guidance of the UAE’s wise leadership, will accelerate the delivery of ADNOC Group’s 2030 strategy, namely, a more profitable upstream business, a more valuable downstream business, and an economic and sustainable supply of gas for Abu Dhabi.
