emirates7 - President His Highness Sheikh Mohamed bin Zayed Al Nahyan chaired the annual meeting of the ADNOC Board of Directors, where significant strategic decisions were made. During the meeting at ADNOC’s headquarters, His Highness approved the launch of XRG, a new investment company focused on lower-carbon energy and chemicals, aimed at accelerating ADNOC's international expansion and creating long-term value.
XRG will initially target investments that meet the growing global demand for natural gas, chemicals, and low-carbon energy solutions. Sheikh Mohamed praised ADNOC’s achievements in advancing its international growth strategy, highlighting that XRG will build on these accomplishments to generate sustainable value for the UAE.
The board also endorsed ADNOC’s target of investing AED200 billion (US$54.5 billion) in the UAE economy over the next five years through its In-Country Value (ICV) program, which has already contributed AED55 billion (US$15 billion) this year. The program has also created 5,500 jobs for Emiratis in the private sector in collaboration with the Emirati Talent Competitiveness Council (Nafis). Since its inception in 2018, the ICV program has contributed a total of AED242 billion (US$65.9 billion) to the UAE economy, supporting 17,000 Emiratis in the private sector.
His Highness emphasized ADNOC’s vital role as a key driver of the UAE's growth and diversification, noting the company’s continued focus on creating value for the nation and supporting economic and industrial opportunities for the private sector. ADNOC is also facilitating local manufacturing of critical industrial products, having signed agreements worth AED72 billion (US$19.6 billion) since 2022, with a target of AED90 billion (US$24.5 billion) in locally manufactured goods by 2030, in support of the UAE’s 'Make it in the Emirates' initiative.
The board reviewed ADNOC’s gas growth strategy, praising the company’s progress in harnessing the UAE's gas resources to meet rising global demand. The company’s Ruwais LNG project is set to more than double the UAE’s liquefied natural gas (LNG) production capacity to around 15 million tonnes per annum, while also establishing a global gas business with investments in Egypt, Mozambique, Azerbaijan, and the US.
ADNOC’s artificial intelligence and digital technology (AIDT) strategy was also discussed, with the board commending the company’s leadership in using AI to improve efficiencies and future-proof its operations. His Highness visited ADNOC’s AI center, where he was briefed on innovations like Robowell, an autonomous well-control solution, and ENERGYai, a first-of-its-kind AI initiative developed in collaboration with AIQ, G42, and Microsoft.
Additionally, His Highness met with Emirati employees driving AI initiatives and praised ADNOC for empowering young Emiratis and providing opportunities for skills development. He emphasized that human capital is the UAE’s greatest asset, and the leadership will continue prioritizing its development.
The meeting was attended by key leaders, including Sheikh Mansour bin Zayed Al Nahyan, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, and Dr. Sultan bin Ahmed Al Jaber, ADNOC's CEO. Dr. Al Jaber highlighted that ADNOC’s commitment to AI adoption and sustainable practices positions it as a catalyst for the UAE's economic growth, while aiming to reduce carbon intensity and achieve net zero emissions by 2045.
The board also stressed ADNOC’s sustainability efforts, with a focus on decarbonization, including a 25% reduction in carbon intensity and near-zero methane emissions by 2030. ADNOC remains one of the world’s least carbon-intensive oil and gas producers.
XRG will initially target investments that meet the growing global demand for natural gas, chemicals, and low-carbon energy solutions. Sheikh Mohamed praised ADNOC’s achievements in advancing its international growth strategy, highlighting that XRG will build on these accomplishments to generate sustainable value for the UAE.
The board also endorsed ADNOC’s target of investing AED200 billion (US$54.5 billion) in the UAE economy over the next five years through its In-Country Value (ICV) program, which has already contributed AED55 billion (US$15 billion) this year. The program has also created 5,500 jobs for Emiratis in the private sector in collaboration with the Emirati Talent Competitiveness Council (Nafis). Since its inception in 2018, the ICV program has contributed a total of AED242 billion (US$65.9 billion) to the UAE economy, supporting 17,000 Emiratis in the private sector.
His Highness emphasized ADNOC’s vital role as a key driver of the UAE's growth and diversification, noting the company’s continued focus on creating value for the nation and supporting economic and industrial opportunities for the private sector. ADNOC is also facilitating local manufacturing of critical industrial products, having signed agreements worth AED72 billion (US$19.6 billion) since 2022, with a target of AED90 billion (US$24.5 billion) in locally manufactured goods by 2030, in support of the UAE’s 'Make it in the Emirates' initiative.
The board reviewed ADNOC’s gas growth strategy, praising the company’s progress in harnessing the UAE's gas resources to meet rising global demand. The company’s Ruwais LNG project is set to more than double the UAE’s liquefied natural gas (LNG) production capacity to around 15 million tonnes per annum, while also establishing a global gas business with investments in Egypt, Mozambique, Azerbaijan, and the US.
ADNOC’s artificial intelligence and digital technology (AIDT) strategy was also discussed, with the board commending the company’s leadership in using AI to improve efficiencies and future-proof its operations. His Highness visited ADNOC’s AI center, where he was briefed on innovations like Robowell, an autonomous well-control solution, and ENERGYai, a first-of-its-kind AI initiative developed in collaboration with AIQ, G42, and Microsoft.
Additionally, His Highness met with Emirati employees driving AI initiatives and praised ADNOC for empowering young Emiratis and providing opportunities for skills development. He emphasized that human capital is the UAE’s greatest asset, and the leadership will continue prioritizing its development.
The meeting was attended by key leaders, including Sheikh Mansour bin Zayed Al Nahyan, Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, and Dr. Sultan bin Ahmed Al Jaber, ADNOC's CEO. Dr. Al Jaber highlighted that ADNOC’s commitment to AI adoption and sustainable practices positions it as a catalyst for the UAE's economic growth, while aiming to reduce carbon intensity and achieve net zero emissions by 2045.
The board also stressed ADNOC’s sustainability efforts, with a focus on decarbonization, including a 25% reduction in carbon intensity and near-zero methane emissions by 2030. ADNOC remains one of the world’s least carbon-intensive oil and gas producers.