Abu Dhabi News

 

ADNOC to Buys 24.9% Stake in Austria's OMV from Mubadala

Dec 21, 2022

Abu Dhabi National Oil Company (ADNOC) has agreed to acquire a 24.9% shareholding in Austrian oil and gas group OMV from Abu Dhabi state fund Mubadala Investment Company, the two companies said on Wednesday. Upon closing of the transaction,…

Abu Dhabi's ADNOC Invites Banks to Pitch for Gas Business IPO - Sources

Dec 13, 2022

Abu Dhabi National Oil Company (ADNOC) has invited investment banks to pitch for roles in the initial public offering (IPO) of its gas business next year, two sources familiar with the matter told Reuters. Bankers familiar with the matter said…

ADNOC Awards Food Catering Services Deals Worth $272M

Dec 06, 2022

Abu Dhabi National Oil Company (ADNOC) has signed contracts worth over AED 1 billion (around $272,25 million) with four Abu Dhabi companies to provide food catering services to all ADNOC Group companies from 2022 to 2027.The contracts were signed…

ADNOC CEO Says World Needs Maximum Energy, Minimum Emissions

Oct 31, 2022

Abu Dhabi National Oil Co (ADNOC) Chief Executive Sultan al-Jaber said on Monday that zeroing out hydrocarbon investment due to natural decline could lead to a loss of 5 million barrels of oil per day a year from current supplies. 'The data is clear…

ADNOC Eyes Higher Gas Output with $548M Lower Zakum Subsea Pipeline Deal

Sep 13, 2022

Abu Dhabi National Oil Company (ADNOC) earlier this month announced a $548 million contract to build a new main gas line at its Lower Zakum field offshore of Abu Dhabi. ADNOC said the award would increase Lower Zakum field’s gas production capacity…

Eni Makes Latest Abu Dhabi Gas Discovery

Jul 29, 2022

Eni has announced a further 'significant' gas discovery, totaling an estimated 1-1.5 trillion cubic feet (Tcf) of gas in place, in its first exploration well drilled in offshore Block 2 Abu Dhabi, United Arab Emirates (UAE).This discovery was…

ADNOC Fleet Rises to over 300 with ZMI Buy

Jul 28, 2022

The shipping and maritime logistics arm of Abu Dhabi National Oil Company (ADNOC) is acquiring Zakher Marine International (ZMI), adding 24 jack-up barges and 38 offshore support vessels to its fleet. ZMI is an Abu Dhabi-based owner and operator of offshore support vessels…

ADNOC, BP and Masdar in Hydrogen and Technology Partnership

May 24, 2022

The Abu Dhabi National Oil Company (ADNOC), oil major BP, and Abu Dhabi future energy company Masdar have joined forces to develop clean hydrogen and technology hubs.Announcing their new-energy partnerships, ADNOC said the H2Teesside low-carbon…

SNC-Lavalin to Assist with Shore-power Connection for ADNOC's Offshore Platforms

Apr 14, 2022

File Photo: ADNOCSNC-Lavalin has won a four-year advisory and engineering services contract from Abu Dhabi National Oil Company (ADNOC) to support its offshore operations power project. A high-voltage, direct current (HVDC-VSC) subsea transmission…

ADNOC Drilling's Profit Rises 6.1%

Feb 11, 2022

Abu Dhabi's ADNOC Drilling reported on Friday a rise of 6.1% in 2021 net profit, with revenues boosted by its onshore and oilfield services businesses.Net profit for 2021 was $603.9 million, up from $569 million in the year-earlier period.Revenues increased to $2…

Abu Dhabi's AD Ports Raises $1B Before Market Debut

Feb 07, 2022

Abu Dhabi's AD Ports Group, owned by sovereign wealth fund ADQ, said it raised 4 billion dirhams ($1.1 billion) in proceeds from its primary issuance and would list its shares on the bourse on Tuesday.AD Ports Group, which operates ports, logistics and industrial zones…

Eni Makes Gas Discovery in Its First Well Offshore Abu Dhabi

Feb 03, 2022

Italian oil and gas company Eni said Thursday it had made a gas discovery at the well XF-002, being drilled the offshore Block 2 in Abu Dhabi (UAE) in 115 ft of water depth, Eni's first in the block.'The well interim results indicate a range of 1…

UAE Energy Minister: World Needs to Invest $3 trln-plus in Renewables in 10 years

Jan 18, 2022

The world needs to invest at least $3 trillion in renewable energy in the next 10 years, state news agency WAM quoted United Arab Emirates (UAE) Industry Minister Sultan al-Jaber as saying on Tuesday in Dubai.The minister, who is also the Abu Dhabi National Oil Company (ADNOC) chief executive…

Prysmian Group Wins MidEast Submarine Cable Contract

Jan 14, 2022

Prysmian Group entered into a Limited Notice to Proceed (LNTP) for the supply of power cables in the context of a landmark  HVDC submarine cable project in the Middle East, worth around $252m. The LNTP was awarded to Prysmian by Samsung C&T as part of its EPC consortium with Jan De Nul Group…

Abu Dhabi's Offshore Service Firm ZMI Secures up to $500M Financing Facility

Jan 11, 2022

Abu Dhabi's offshore marine services company ZMI Holdings said on Tuesday it had signed and closed a new senior secured financing facility of up to $500 million.It will help ZMI invest further in its growth markets, and provide committed and…

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