UAE brings forward oil production capacity expansion to 2027

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ADNOC's gas processing and LNG businesses will be consolidated to create ADNOC Gas

Maha El Dahan and Alaa Swilam, Reuters News

November 28, 2022

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DUBAI - The board of Abu Dhabi's ADNOC has endorsed plans to bring forward the company's five million barrel per day oil production capacity expansion to 2027, the company said in a statement on Monday.

ADNOC's gas processing and LNG businesses will be consolidated to create ADNOC Gas, and ADNOC will float a minority stake in the new company on ADX next year, the statement added.

(Reporting by Maha El Dahan and Alaa Swilam; Writing by Maha El Dahan; Editing by Jan Harvey)

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