The Abu Dhabi National Oil Company (Arabic: ???? ????? ?????? ????????) or ADNOC is the state-owned oil company of the United Arab Emirates (UAE). According to the Oil & Gas Journal, as of January 2015, the UAE holds the seventh-largest proven reserves of oil in the world at 97.8 billion barrels. Most of these reserves are located in Abu Dhabi. It is the world's 12th largest oil company by production, standing at 3.1 million barrels per day. It is the UAE's biggest company.
Video Abu Dhabi National Oil Company
Operations
ADNOC is one of the world's largest energy companies measured by both reserves and production. ADNOC has 16 subsidiary companies in upstream, midstream, and downstream stages of production. ADNOC develops both onshore and offshore gas fields. The company operates two oil refineries, Ruwais and Umm Al Nar. ADNOC exports natural gas in the form of liquefied natural gas (LNG) in addition to producing supplies for local electricity and water utilities, to other domestic industries including petrochemicals plants, and for re-injection into reservoirs.
Headquarters
ADNOC Headquarters is a skyscraper office complex located in Abu Dhabi. The building incorporates energy efficiency and sustainable engineering technologies, such as a double skin façade, photovoltaic glazing, LED exterior lighting. Designed by HOK, the overall building complex consists of more than 65 floors with an office tower, corniche club, crisis management center, a heritage museum, and other support facilities.
Maps Abu Dhabi National Oil Company
Leadership and corporate governance
Sultan Ahmed Al Jaber
Sultan Ahmed Al Jaber is Minister of State in the United Arab Emirates, the Director-General and CEO of the Abu Dhabi National Oil Company, the chairman of Masdar, a company located in Abu Dhabi specializing in clean technology, renewable energy, and sustainable development and the chairman of Abu Dhabi Ports. He serves as the UAE's special envoy for energy and climate change.
In 2013, Dr. Al Jaber was named Minister of State and joined the UAE cabinet. Dr. Al Jaber's appointment was approved by Sheikh Khalifa bin Zayed Al Nahyan, the UAE's president. Speaking of the appointment of Dr. Al Jaber and other ministers, Sheikh Mohammed bin Rashid Al Maktoum, the UAE's vice president and prime minister and ruler of Dubai, said the new cabinet has "young faces with new ideas and energy to keep up with the rapid changes and to deal with our people's top priorities."
Al Jaber holds a BSc in Chemical Engineering from the University of Southern California the United States and a PhD in business and economics from Coventry University in the United Kingdom and an MBA from the California State University at Los Angeles.
After his appointment, Al Jaber, revealed a plan to modernize ADNOC and make its operations more profitable. The plan includes streamlining ADNOC's operations to improve profitability and working to create a more commercially minded culture among the firm's employees; the goal is to put the quality of ADNOC's operations on equal footing with large multinationals while ensuring that the firm continues to help the UAE diversify its economy. As part of this effort, a master plan is being implemented to better coordinate upstream and downstream gas operations among ADNOC's many subsidiaries in order to more effectively meet the UAE's rising demand for natural gas. Maximizing profitability in upstream operations is another key priority. Under this plan ADNOC is also looking for ways to better coordinate downstream activity and create new products. Executive compensation has now been tied to key performance indicators and commercial benchmarks, especially operating cost per barrel. Al Jaber's plan will be implemented over several years. It is a part of the government's plan for economic diversification embodied in Economic Vision 2030.
Supreme Petroleum Council
The Supreme Petroleum Council is the highest governing body of oil, gas, and similar industry related activities in the Abu Dhabi. The Council was formed in 1988. The Council is tasked with supervising all oil and gas companies that operate in Abu Dhabi and the United Arab Emirates and acts as the board of directors for ADNOC.
Subsidiaries
As a fully integrated oil and gas company, ADNOC operations fulfill every aspect of process in the petroleum industry. These process are then divided among multiple subsidiaries.
Exploration and Production of oil and gas
ADNOC Onshore
ADNOC Onshore works onshore and in shallow coastal water. It is previously known as Abu Dhabi Company for Onshore Petroleum Operations, ADCO. ADNOC Onshore operates primarily in Abu Dhabi. The company was originally known as Petroleum Development (Trucial Coast). It received its first concession on 11 January 1939 but did not begin geological operations until after World War II. The first commercially viable oil discovery was made at Bab in 1960. In 1962, the company was renamed the Abu Dhabi Petroleum Company. Exports began to flow from the Jebel Dhanna terminal on 14 December 1963. Abu Dhabi's government acquired 25% equity in the company in 1973 and increased its stake to 60% in 1974. The company started using the name Abu Dhabi Company for Onshore Petroleum Operations, ADCO, in 1978. ADNOC Onshore's primarily exports from the Jebel Dhanna and Fujairah terminals.
ADNOC Offshore
ADNOC Offshore is the largest offshore oil producer in Abu Dhabi. It is ADNOC's dedicated offshore arm and are responsible for the development and delivery of oil and gas resources in Abu Dhabi waters. It is formed through the consolidation of two of ADNOC's upstream oil and gas companies: Abu Dhabi Marine Operating Company (ADMA-OPCO) and Zakum Development Company (ZADCO). ADMA-OPCO's shareholders are ADNOC, which holds a majority share of 60%, JODCO, BP and Total. ZADCO's shareholders are ADNOC, Exxon Mobil, and JODCO. By Shamon
ADNOC Drilling
The ADNOC Drilling is the ADNOC's oldest subsidiary. It is previously known as National Drilling Company, NDC. ADNOC Drilling is the largest drilling company in the Middle East. It drills for oil both onshore and offshore in Abu Dhabi. ADNOC has 100% equity in the ADNOC Drilling.
Al Yasat Petroleum
Al Yasat Petroleum is ADNOC's youngest operating company. It is the first joint venture between ADNOC and China National Petroleum Corporation (CNPC), established in 2014. Al Yasat's role is to explore oil and gas potential within the company's mandated concession areas, and to develop prospective locations on behalf of the company's shareholders. ADNOC is the majority shareholder and owns 60% of the company, with CNPC owning the remaining 40%.
Al Dhafra Petroleum
Al Dhafra Petroleum is an emerging upstream company that is focused on unlocking undeveloped oil and gas potential in the UAE. Al Dhafra Petroleum is a dynamic and efficient upstream company with a mandate to maximize the UAE's natural resources. Its shareholders are ADNOC, which owns 60% of the company, with Korea National Oil Corporation (KNOC) and GS Energy owning the remaining 40%.
Processing and Refining
ADNOC Gas Processing
ADNOC Gas Processing is a natural gas producer. It is formerly known as Abu Dhabi Gas Industries Limited (GASCO). ADNOC owns 68 percent equity in ADNOC Gas Processing. Other shareholders are Shell Abu Dhabi with 15 percent equity, Total also with 15 percent with 15 percent, and Partex with 2 percent. The company was established in 1975.
ADNOC Sour Gas
ADNOC Sour Gas is a joint $10 billion venture between ADNOC and Occidental Petroleum that is expected to extract at least one billion cubic feet of ultra-sour gas per day. On a daily basis the project is also expected to produce 504 million cubic feet of natural gas, 33,000 barrels of condensates, and thousands of tons of natural gas liquids, and thousands of tons of sulphur granules. The Project is located in the Shah gas field about 210 kilometers west of Abu Dhabi. Half of this field's production will be used to service domestic demand in the UAE and minimize the need for gas imports. ADNOC Sour Gas is 60% owned by ADNOC with the remaining equity held by Occidental.It is previously known as Abu Dhabi Gas Development Company Limited (Al Hosn Gas).
ADNOC LNG
ADNOC LNG processes and distributes liquefied petroleum gas and liquified natural gas. ADNOC Gas Processing supplies product to ADNOC LNG at Das Island where it is processed and loaded on ships for export to East Asia, especially Japan. ADNOC is the majority shareholder. Minority shares are held by Mitsui, BP, and Total.It is formerly called Abu Dhabi Gas Liquefaction Co. Limited (ADGAS).
ADNOC Refining
ADNOC Refining was created in 1999 to takeover oil refining from ADNOC. ADNOC Refining refines crude oil and condensate, various petroleum products, and granulated sulphur. It operates the Ruwais and Abu Dhabi refineries. In 2015, it completed a major expansion of its Ruwais Refinery. The $10 billion project doubled the capacity of the facility. A large part of the increased output is dedicated to diesel production due to demand from Asia. Ruwais has the ability to refine 600,000 tonnes of high-quality base oils per year. These oils are used primarily for automative lubricants.It is previously known as Abu Dhabi Oil Refining Company (TAKREER).
ADNOC Fertilizers
ADNOC Fertilizers was established in 1980. It manufactures urea and ammonia at its plant in Ruwais. Most products are exported to India. ADNOC Fertilizers is a joint venture with Total. ADNOC retains majority control.It is formerly called Ruwais Fertilizer Industries (FERTIL).
ADNOC Industrial Gas
ADNOC Industrial Gas was founded in 2007. It manufactures industrial gas used in the oil, gas, and petrochemical industries. ADNOC Industrial Gas works very closely with ADNOC Gas Processing. The firm is a joint-venture between ADNOC and the Linde Group of Germany. ADNOC holds 51% equity with the remainder held by Linde.It is formerly known as ADNOC Linde Industrial Gases Company Limited (ELIXIER).
Abu Dhabi Polymers Company (Borouge)
Borouge is a manufacturer of polyolefins. It is a joint venture of ADNOC and Borealis of Austria. It was founded in 1998, and has two divisions, one based in Abu Dhabi and another based in Singapore. The company supplies polyolefin plastics (polyethylene and polypropylene). They focus on differentiated high-end applications in the Middle East and Asia Pacific with Borstar Enhanced Polyethylene produced in Abu Dhabi and the Borealis range of speciality products.
Marketing and Distribution
ADNOC Logistics & Services
ADNOC Logistics & Services is formed by merging ESNAAD, IRSHAD, and ADNATCO. ADNOC Logistics & Services is 100% owned by ADNOC. The new company has a workforce of about 4,000 people.
Petroleum Services Company (ESNAAD)
ESNAAD is a wholly owned subsidiary of ADNOC. ESNAAD is headquartered in Mussafah where it operates from the Mussafah Offshore Supply Base. The base covers over 1.4 million square meters of land and offers extensive facilities to support both the on-shore and off-shore oil and gas industry. The company offers oilfield services, marine services, and base services.
Abu Dhabi Petroleum Ports Operating Company (IRSHAD)
IRSHAD runs Abu Dhabi's petroleum exporting port facilities. It is responsible for berthing and loading tankers. IRSHAD's most important facility is the port at Jebel Dhanna.
Abu Dhabi National Tanker Company (ADNATCO)
ADNATCO transports crude oil and liquified natural gas from Abu Dhabi to ports around the world on its fleet of oil tankers and LNG carriers.
National Gas Shipping Company (NGSCO)
NGSCO operates the same as that of ADNATCO. ADNOC's holds 70% equity stake in this enterprise.
ADNOC Distribution
ADNOC Distribution operates hundreds of service stations across the UAE, provides bunkering services at Mina Zayed port, aviation fuel services at most of the country's airports, and sells its own brand of lubricants throughout the Gulf region.
See also
- International Petroleum Investment Company
- List of oil exploration and production companies
References
External links
- Official website
Source of article : Wikipedia
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