Abu Dhabi – Mubasher: The UAE's Supreme Petroleum Council (SPC) has approved a support bundle worth AED 486 billion ($132.34 billion) for Abu Dhabi National Energy Company's (ADNOC) five-year growth plan.
The figure entails ADNOC's gas strategy "to become self-sufficient and a net gas exporter," Abu Dhabi Crown Prince Mohammed bin Zayed said on Sunday.
He added that ADNOC will raise its oil output capacity to 5 million barrels per day (bpd) by 2030.
"Accelerating investments, driving competitiveness, and increasing productivity are strategic imperatives, as we enter a new phase of national development," bin Zayed tweeted, stressing that ADNOC was undertaking "proactive steps" to ensure that the UAE remains "ahead of the curve and to enable future prosperity."
