ADNOC to Boost Production Capacity
Dr. Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO (Photo: ADNOC)
Abu Dhabi state-owned oil producer ADNOC plans to increase oil production capacity to 5 million barrels per day by 2030, the emirate's crown prince said in a tweet.
Abu Dhabi's "Supreme Petroleum Council approved AED 486 billion ($132.33 billion) in capex to support ADNOC's 5-year growth plans, including its gas strategy to become self-sufficient and a net gas exporter," Sheikh Mohammed Bin Zayed also said in his tweet.
($1 = 3.6726 UAE dirham)
(Reporting by Maher Chmaytelli; Editing by Catherine Evans)
