ADNOC has revealed a series of agreements with American energy firms, potentially unlocking $60 billion in investments from the United States into energy projects in the United Arab Emirates (UAE).
These key partnerships were introduced during a business dialogue between the UAE and US, featuring US President Donald J. Trump.
The agreements are designed to reinforce the shared commitment of both nations to maintain global energy security and ensure energy market stability.
The projected enterprise value of UAE investments in US energy is expected to reach $440 billion by 2035.
This forms part of a broader $1.4 trillion investment agenda by the UAE in the US, highlighting the strong economic relationship between the two countries.
Included in the collaborations is a field development strategy with ExxonMobil and INPEX/JODCO aimed at boosting the capacity of the Upper Zakum offshore field.
The Upper Zakum initiative will leverage artificial intelligence technologies to sustainably enhance production levels. Additionally, the field will be supplied with energy from the UAE’s clean energy infrastructure, aimed at lowering emissions and bolstering environmental protections.
Moreover, a strategic partnership agreement with Occidental seeks to increase production capacity at the Shah Gas field from 1.45 billion standard cubic feet per day (bscf/d) to 1.85 bscf/d, utilizing cutting-edge technology for output optimization.
Situated 180 kilometers from Abu Dhabi, the Shah Gas field will facilitate domestic industrial growth and support liquefied natural gas (LNG) exports through possible expansion.
Sultan Al Jaber, Minister of Industry and Advanced Technology as well as ADNOC’s managing director and group CEO, stated: “The longstanding bilateral relationship between the UAE and the US is founded on our mutual commitment to ensuring energy abundance, and we are strengthening this commitment through these agreements with leading American energy companies.
“We perceive substantial opportunities for deeper UAE-US cooperation in the energy and AI sectors, and we are eager to collaborate with our American counterparts to generate sustainable long-term value and promote socio-economic development.”
Furthermore, XRG, an energy investment firm, has signed a framework agreement with Occidental subsidiary 1PointFive to explore investment in a direct air capture (DAC) project in Texas.
This project is expected to have the potential to remove up to 500,000 tonnes of CO₂ emissions each year. XRG is considering a capital investment that could account for up to one-third of the project’s total development costs.
ADNOC has also announced that the Abu Dhabi Supreme Council for Financial and Economic Affairs has granted EOG Resources an unconventional oil exploration concession in the Al Dhafra region.
This represents the first concession of this nature awarded to a US company, and ADNOC will support the exploration activities and may participate in production operations.