ADNOC considers forming integrated drilling company
July 31, 2017
Abu Dhabi National Oil Co. is expanding its partnership model and implementing more active management of its portfolio of assets.
Offshore staff
ABU DHABI, UAE – Abu Dhabi National Oil Co. (ADNOC) is expanding its partnership model and implementing more active management of its portfolio of assets.
The move aligns with the company’s 2030 growth strategy, and will, the company hopes, help drive business and increase revenue, optimize performance, and secure greater access for its products in growth markets.
ADNOC plans new partnership and co-investment opportunities in the oil, gas, refining and petrochemical industries, with opportunities including:
•Upstream - develop and further expand a regional, fully integrated drilling company, and develop upstream concessions with 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 optimize the company’s assets. This may involve bundling of select ADNOC infrastructure assets such as oil and gas pipelines and storage facilities.
