UAE – Mubasher: The CEOs of Abu Dhabi National Oil Company (ADNOC) and Exxon Mobil Corporation (ExxonMobil) held talks to explore new opportunities for collaboration in the upstream and downstream sectors.
The discussions coincided with a joint visit to review the progress of the over AED 110 billion ($30 billion) expansion in Upper Zakum, ADNOC said in a statement on Tuesday.
Upper Zakum’s expansion is set to have a production capacity of 750,000 barrels per day (bpd) and is expected to reach 1 million bpd by 2024.
ADNOC is stepping up mutually beneficial partnerships in a bid to expand its portfolio across the upstream and downstream sectors.
“Our existing partnership with ExxonMobil on the Upper Zakum field is a prime example of how ADNOC engages with world-class partners that bring expertise and advanced technology to unlock value from our resources, for mutual benefit, and deliver the greatest possible returns to the UAE,” Sultan Ahmed Al Jaber, UAE Minister of State and Group CEO of ADNOC, commented.
