IPOs, new partnerships as ADNOC embarks on expansion plan

Abu Dhabi / WAM

The Abu Dhabi National Oil Company (ADNOC) announced the expansion of its partnership model to span the group’s entire value chain
as well as the more active management of its portfolio
of assets. The new initiative builds on ADNOC’s flexible operating model and its 2030 growth strategy, enabling it to unlock and maximise significant value from across the group, drive business and revenue growth, optimise performance, and secure greater access for its products in key growth markets.
At the heart of this new approach is a range of new and compelling partnership and co-investment opportunities in the oil, gas, refining and petrochemical space.
Some of these opportunities will include, but will not be limited to, ‘upstream’, to develop and further expand a regional, fully integrated drilling company (the development of upstream concessions with value-added partners that may also seek to strategically partner with ADNOC in other parts of the value chain) ‘midstream’ through creating a new energy infrastructure venture to both generate value and further optimise ADNOC’s assets which might include the bundling of select ADNOC infrastructure assets such as oil, gas or refined products pipelines and storage facilities, and ‘downstream’, to further open ADNOC’s downstream business to create a number of new partnership and investment opportunities across its portfolio of refinery and petrochemical assets.
These new ventures will bring in partners to improve integration, realise synergies and expand technological capability and output to meet the rising global demand for petrochemical products.
Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, said, “Shifting global trends are creating a new energy landscape where new rules of engagement are required. In this new energy era, we need more creative strategies and more flexible business models to capture growth.”
Dr Al Jaber continued, “Expanding our partnership model across the whole of our value chain and more actively managing our portfolio will allow us to both unlock value and reinvest capital into new, high growth opportunities.
“It will enable us to accelerate our growth, increase revenue and improve integration across the ADNOC value chain. It will also spur domestic economic growth as well as bring new jobs and benefits to the UAE and its citizens.”