"With the blessing of HH Sheikh Khalifa, the Supreme Petroleum Council approved AED 486 billion [$132bln] in capex to support ADNOC’s [Abu Dhabi National Oil Company's] 5-year growth plans, including its gas strategy to become self-sufficient & a net gas exporter. ADNOC will increase oil production capacity to 5mpbd by 2030," the crown prince said on Twitter.
بمباركة خليفة، عقدنا اجتماع المجلس الأعلى للبترول واعتمدنا 486 مليار درهم استثمارات لدعم مشاريع #أدنوك للنمو والتوسع في السنوات الخمس المقبلة.. كما اعتمدنا استراتيجية شاملة لتحقيق الاكتفاء الذاتي من الغاز وزيادة السعة الإنتاجية للنفط تدريجياً إلى 5 ملايين برميل يومياً في 2030. pic.twitter.com/aImLwIcmCX
— محمد بن زايد (@MohamedBinZayed) 4 ноября 2018 г.
READ MORE: Oil Market in Good Condition, Inventories Drawdown Stopped — UAE Energy Minister
In September, United Arab Emirates (UAE) Energy Minister Suhail Mazrouei positively evaluated the situation on the oil market, noting an increase in production.
Meanwhile, the UAE-based International Pipeline Construction (IPC) was sanctioned earlier for being owned or controlled by another company already under sanctions, Hesco Engineering.
