Adnoc is an engine of economic growth and diversification in the UAE and its transformative journey as a responsible global energy pioneer plays a pivotal role in strengthening the country's leadership in the energy sector, Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, has said.
The company has made a significant contribution to advancing the energy transition through its accelerated net-zero ambitions, investment in new technology and strategic partnerships within the energy sector, said Sheikh Khaled, who on Thursday received Sheikh Maktoum bin Mohammed, First Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance, at Adnoc headquarters.
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, and Adnoc managing director and group chief executive, as well as members of the company's executive management were also present, Abu Dhabi Media Office said in a statement.
Sheikh Khaled also underlined Adnoc’s strategy to invest in clean energy to meet growing demand and to explore alternative energy sources to support sustainable development and help the country meet its Net Zero 2050 goals.
Adnoc has set “high benchmarks for sustainability among major oil producers”, Sheikh Maktoum said.
The company’s initiatives are helping to raise the UAE's contributions to global climate neutrality and its investment in low-carbon solutions and emerging energy sources.
Sheikh Maktoum also toured the company’s Visitor Centre as well as its Panorama Digital Command Centre, which has generated more than $1 billion in business value since its inception in 2017.
He was also briefed on Adnoc’s efforts to transform, decarbonise and future-proof its business, unlock value from its operations and responsibly support global energy security, the statement said.
Adnoc has placed sustainability at the heart of its long-term strategy to future-proof its business. It has accelerated its decarbonisation plan, bringing forward its net-zero targets to 2045 from 2050.
The company has made an initial allocation of $15 billion to low-carbon solutions to expedite the implementation of its key decarbonisation initiatives, including carbon capture and storage, electrification, energy efficiency and nature-based solutions.
The support from the UAE leadership is instrumental in Adnoc’s pursuit of progress as it reinforces sustainability in “all aspects of our operations and bolster our position as a reliable and responsible provider of lower-carbon energy and a key contributor to the nation’s economic and social development”, Dr Al Jaber said.
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