The global energy leader Abu Dhabi National Oil Company (ADNOC) has signed a joint venture (JV) agreement with ADQ to create a new investment platform to fund and oversee the development of industrial projects within the planned Ruwais Derivatives Park, in UAE.
- The JV will accelerate the UAEs chemicals and industrial growth strategy.
Asd per JV agreement, ADNOC and ADQ will jointly evaluate and invest in anchor chemicals projects.
- ADNOC will hold a 60% majority equity stake in the JV with ADQ holding the remaining 40%.
In June 2020: The Abu Dhabi National Oil Company (ADNOC) has entered into an agreement with some of the worlds leading infrastructure investors and operators, to invest in select ADNOC gas pipeline assets valued at $20.7 billion. A consortium of investors comprising Global Infrastructure Partners (GIP), Brookfield Asset Management, Singapores sovereign wealth fund GIC, Ontario Teachers Pension Plan Board (Ontario Teachers), NH Investment & Securities and Snam.
In December 2019, The Abu Dhabi National Oil Company (ADNOC) signed, a Framework Agreement with Reliance Industries Limited (RIL) to explore development of an Ethylene Dichloride facility in Ruwais.
In November 2019, The Abu Dhabi National Oil Company (ADNOC) announced, a partnership with Honeywell as it embarks on one of the largest predictive maintenance projects in the oil and gas industry. Under the terms of a 10-year partnership agreement, ADNOC will utilize Honeywells state-of-the-art asset monitoring and predictive analytics platfom to maximize asset efficiency and integrity across ADNOCs upstream and downstream operations.
The Abu Dhabi National Oil Company (ADNOC) is the state-owned leading oil company of the United Arab Emirates, headquartered in Abu Dhabi. The company operate across the entire hydrocarbon value chain, that range from exploration, production, storage, refining and distribution, to the development of a wide-range of petrochemical products.