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last mo.

ADNOC Approves $150 Billion Five-Year Plan, Creates Ghasha Operator and Lifts UAE Reserves

The plan centers on boosting gas supply using AI-driven exploration to accelerate industrial growth.

ADNOC has made new oil and gas discoveries of more than 1.2 billion barrels of oil equivalent (boe). Image: Shutterstock
Adnoc held its board meeting at the Habshan complex. Photo: Abdulla Al Bedwawi / UAE Presidential Court
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Overview

  • The board, chaired by President Sheikh Mohamed at the Habshan complex operated by ADNOC Gas, met at a facility that supplies about 60% of the UAE’s natural gas.
  • The five-year outlay will maintain upstream capacity, expand natural gas output, and accelerate growth in downstream and chemicals.
  • The board established ADNOC Ghasha to operate the Hail, Ghasha, Dalma, SARB and Nasr fields, a concession expected to deliver 1.8 bscf per day of gas and 150,000 barrels per day of oil and condensates, with Hail and Ghasha construction advancing.
  • ADNOC reported UAE conventional reserves of 120 billion stock tank barrels of oil and 297 tscf of gas, supported by over 1.2 billion boe in new discoveries enabled by large 3D seismic surveys and AI interpretation.
  • All Phase 1 projects at the TA’ZIZ chemicals ecosystem are underway to produce 4.7 mtpa and lift total chemicals capacity to 11 mtpa by 2028, while the ICV program has delivered $83.7 billion since 2018 and targets $60 billion more over the next five years.