ADNOC has signed agreements with ExxonMobil to expand the capacity of United Arab Emirates (UAE) Upper Zakum field, and with Occidental to explore increasing Shah Gas field’s capacity…
ADNOC has signed agreements with ExxonMobil to expand the capacity of United Arab Emirates (UAE) Upper Zakum field, and with Occidental to explore increasing Shah Gas field’s capacity, as part of multiple strategic agreements that could potentially enable $60 billion of U.S. investments in UAE energy projects.
The agreements include a landmark field development plan with ExxonMobil and INPEX/JODCO to expand the capacity of Abu Dhabi’s Upper Zakum offshore field through a phased development.
ADNOC also signed a strategic collaboration agreement with Occidental to explore increasing the production capacity of Shah Gas field’s capacity to 1.85 billion standard cubic feet per day (bscfd) of natural gas, from 1.45 bscfd, and accelerating the deployment of advanced technologies in the field.
The agreements reinforce the shared commitment of the UAE and US to maintaining global energy security and the stability of energy markets.
The enterprise value of UAE energy investments into the US is set to reach $440 billion by 2035, as part of the UAE’s $1.4 trillion investment plan into the country.
“The deep-rooted bilateral relationship between the UAE and the US is underpinned by our shared
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