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10 October 2019
INVESTMENT

ADNOC seeks to expand strategic partnerships, says Group CEO

Over the last two years, the state-owned oil company has expanded its strategic partnership and co-investment model, creating new investment opportunities across all areas of its value chain.

Bloomberg/Christophe Viseux


Dr. Sultan bin Ahmad Sultan Al Jaber, UAE's Minister of State and ADNOC Group CEO, said that the Abu Dhabi National Oil Company (ADNOC) is creating new opportunities for partnerships and investments as it pursues a balanced growth strategy and drives responsible production to meet the world’s growing energy demand.

“We are making sizeable investments downstream to create within the UAE, one of the largest refining and petrochemical complexes in the world—this will provide the foundation for fully integrated derivatives and manufacturing hub located at the gateway to the most promising growth markets,” said Al Jaber

The state-oil company entered a series of strategic equity partnerships across its value chain in the last twelve months.

These transactions include a $5 billion pipeline infrastructure investment with BlackRock, KKR & Co. as well as the Abu Dhabi Retirement Pensions and Benefits Fund and the Singapore sovereign fund, GCI.

Additionally, the partnerships also include a joint venture with OCI that created the world’s largest exporter of nitrogen fertiliser, the acquisition of a ten per cent stake in VTTI, the global storage terminal owner and operator and a strategic equity partnership with Eni and OMV that established the foundation for a world-class refining and trading platform.


RELATED STORIES: GCI BLACKROCK ADNOC ADNOC OIL PIPELINES DR. SULTAN BIN AHMAD SULTAN AL JABER KKR & CO ABU DHABI RETIREMENT PENSIONS AND BENEFITS FUND ENI OMV

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