US Secretary of Energy Rick Perry Meets with ADNOC
His Excellency Dr Sultan Ahmed Al Jaber, UAE Minister of State and ADNOC Group CEO, met, today, with USA Assistant of Power Rick Perry, that is leading the United States delegation, joining the US-UAE Strategic Power Dialogue, taking place in Abu Dhabi.
In the meeting, at ADNOC's corporate headquarters, conversations concentrated on reinforcing the UAE and ADNOC's long-lasting and close connection with the United States in the energy market. During his check out, Assistant Perry went to ADNOC's Scenic view Digital Command Centre that uses smart logical designs and cutting-edge Expert system platforms to produce functional insights that enhance efficiency and create additional value.
H.E. Dr Al Jaber briefed Secretary Perry on the current growths in Abu Dhabi's oil and gas industry, including ADNOC's continuous transformation and the new financial investment possibilities through the company's increase partnership design. He likewise updated Secretary Perry on ADNOC's strategies to discover the potential of Abu Dhabi's unconventional gas tanks and the ongoing minority public listing of its fuel services subsidiary, ADNOC Distribution.
H.E. Dr Al Jaber praised the power partnership between the UAE and the USA. "We see several opportunities to more reinforce these ties as ADNOC adapts to new market dynamics and produces a modern, energized and commercially focused business that will certainly guarantee we continuously grow in the developing energy landscape. As we focus on taking full advantage of value from all our gas reservoirs, ADNOC prepares to partner with firms that bring technology, experience and capital, and that share our vision of a future where our industry continues to play a key duty in providing lasting economic growth".
In 1939, US power giant ExxonMobil, in the semblance of Petroleum Advancement (Trucial Shore), was approved a 75-year onshore expedition, growth and production concession that ended in 2014. In 2006, ExxonMobil renewed its partnership with ADNOC when it was granted a 28 percent getting involved passion in the Upper Zakum offshore concession, operated by ADNOC Offshore.
ADNOC likewise partners with Occidental Petroleum (OXY) which has a 40 percent participating passion in the Al Hosn center, operated by ADNOC Sour Gas. Located in the onshore Shah Area, Al Hosn is one of the world's largest plants refining sour gas, producing one billion cubic feet daily of the gas. In 2016, strategies were revealed to boost Al Hosn's processing capacity by 50 per cent.
"The strong bi-lateral connection in between the USA and the UAE has increased quickly over the last years, not simply in the power market but across the full financial range," Secretary Perry said.
" Our shared background points to also more powerful links in the future and I think, as the UAE further opens its energy market to global investment, United States companies will want to check out those opportunities that assure to provide equally helpful competitive returns and long term growth."
